Full year outlook unchanged at Homeserve

26th Sep 2012 07:02

First half profits from international home emergency business Homeserve will be higher than in the corresponding period of last year, and therefore higher than some broker estimates.Adjusted pre-tax profit for the six months ending September 30th is expected to be higher than the £23.5m achieved at the interim stage last year, principally due to the benefits of increasing ownership of Domeo from 49% to 100%. Broker Peel Hunt had forecast £20m. Net debt at the end of September is expected to be around £75m, up from £66.0m at the end of March, leaving "significant headroom against our committed facility of £250m."More to follow ... JH