Homeserve increases its 2018 full year dividend by 25%

DividendMax Ltd.

Homeserve increases its 2018 full year dividend by 25%

Homeserve 2018 final results

Statutory operating profit up 29% to £135.0m, with basic earnings per share up 26% to 30.2p as total customers increased 7% to 8.4m

Further step change in North America: 146% increase in adjusted operating profit to $64.4m; customers up 20% to 3.6m

UK adjusted operating profit of £61.1m (FY17: £63.2m) as the business invested in strategic initiatives to increase efficiency, expand partnerships and grow Heating and LeakBot opportunities

France and Spain both delivered double digit growth in adjusted operating profit, up 13% and 20% respectively

Acquisition of 100% of Checkatrade in November 2017 to accelerate the development of an online, on demand Home Experts marketplace

Group remains highly cash generative and well financed: 107% cash conversion¹; net debt within target range at 1.2x EBITDA; successful equity placing in October 2017 raised gross proceeds of £125m

Proposed final dividend of 14.4p, to take the total dividend for the year to 19.1p, up 25%

Companies mentioned