Homeserve on track

30th Sep 2010 11:27

Homeserve's interim profit is expected to be higher than last year, as expected, though the home maintenance specialist says growth will be weighted towards the second half.In an update to coincide with the half-year to 30 September, its said membership businesses have continued to grow, with increasing customer and policy numbers and retention rates high across all regions. The company, which made £26m profit this time last year, or £18.9m adjusted for one-off items, keeps its outlook for the full-year unchanged.Gross new policy sales in the UK are seen up 12% at the interim stage and policy numbers are reckoned to be about 5% higher. The firm is also on target to achieve its full year 3-4% customer growth target. Customer numbers are expected to have risen by 10% at the French joint venture Domeo along with a 17% increase in total policies. There's also been "good progress" in the US where gross new policy sales, excluding August's acquisition of the National Grid Energy Services (NGES) business, are expected to be up 21%.Homeserve remains on track to deliver its full-year target including a £3m operating profit contribution from NGES.