Homeserve PLC announce an interim dividend increased 10% to 6.8p

DividendMax Ltd.

Homeserve PLC announce an interim dividend increased 10% to 6.8p

The Homeserve PLC Board has declared an interim dividend of 6.8p per share (HY21: 6.2p), up 10%, reflecting its confidence in HomeServe's continuing growth prospects. The dividend will be paid on 7 January 2022 to shareholders on the register on 10 December 2021.

Other financial highlights:

Revenue growth of 14% and adjusted operating profit growth of 24% driven by strong performance in North America, Home Experts and Continental Europe.

North American Membership & HVAC delivered adjusted operating profit growth of 11% on a constant currency basis, with new utility partnerships delivering access to a further 6.1m households. 

In EMEA Membership & HVAC, France delivered 28% revenue growth, profits doubled in Spain and progress continues with signing utility partners in Japan. 

In the UK, adjusted operating profit grew 3% to £9.4m and initiatives to transform and broaden the business are making good early progress: the acquisition of CET Structures Ltd ("CET") on 22 October creates a leadership position in home emergency assistance to complement home assistance cover and HVAC, and stimulate profit growth. 

Home Experts division now profitable, with adjusted operating profit of £3.7m (statutory operating loss of £1.3m).

Financial position remains strong: leverage increased to 2.1x net debt: EBITDA (HY21: 2.0x), reflecting typical first half seasonality and investments in the period.

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