HomeServe assures results in line as compensation exercise finishes

26th Mar 2014 07:01

Home emergency and insurance HomeServe confirmed in a trading update that its results remained in line with market expectations.In an update prior to entering its close period at the end of its financial year, the FTSE 250 company said adjusted profit before tax was in line with previous guidance, with both the UK and International businesses having performed as planned.It added that it had completed its customer re-contacting and compensation exercise in relation to questionable sales techniques in the past. "All of the customers that may have been affected as a result of certain historic practices have now been contacted and the cost of the exercise is in line with our expectations."In February, Homeserve agreed to a UK record fine of £30.6m as a full and final settlement, with no need for further provisions in relation to the fine and associated remediation exercise. HomeServe expects to announce its preliminary results on May 20th.OH