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Homeserve

Homeserve on track as US continues to push ahead

Checkatrade has seen strong results from the recent advertising campaigns in North West England,

Homerserve
Homeserve is spending heavily on Checkatrade

Homeserve PLC (LON:HSV) expects to hit forecasts this year with good progress in the US compensating for heavy advertising and promotion of its Checkatrade business.

Checkatrade had seen strong results from the recent advertising campaigns in North West England, Homeserve added.

Elsewhere, the on-billing arrangements with electricity utility Endesa in Spain have been extended for a further five years, which is expected to help the ongoing retention rate.

Homeserve is selling out of Italy, however, with its 49% stake in Assistenza Casa to be acquired by partner Edison.

In the year to March 2019, profits rose by 13% to £139.5mln. Revenues hit £1bn for the first time with a 12% rise over the previous year.

Homeserve added that its results are always heavily weighted towards the second half of its financial year.

Quick facts: Homeserve

Price: £11.65

Market: LSE
Market Cap: £3.9 billion
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