Homeserve 2018 interim results
Growth in customer numbers in all established regions, supported by a Group retention rate of 82% (HY17: 82%) and a global focus on customer satisfaction
Solid operational performance and customer service metrics in the UK, with second half weighting of profit increasing as expected: full year growth prospects remain unchanged
Strong momentum in North America, to be supplemented by HomeServe's largest ever policy book acquisition announced 19 October 2017
Continued profit growth in France and Spain
Further progress on defining and testing the Home Experts model to deliver an on-demand home improvements platform
Net debt of £304m, 1.9x last twelve months EBITDA at 30 September 2017 (HY17: £252.9m, 1.9x)
Balance sheet strength retained with £125m equity placing on 19 October 2017
Interim dividend up 15% to 4.7p
Continued expectation of further strong growth in FY18.
Announcement today that HomeServe has acquired the remaining 60% of Checkatrade for £54m in cash and shares, taking its total shareholding to 100%
