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Britain's HomeServe sees full-year profit in line with expectations
April 6, 2017 / 6:45 AM / 8 months ago

Britain's HomeServe sees full-year profit in line with expectations

April 6 (Reuters) - British repair and insurance firm HomeServe said it expected full-year profit to come in at the upper end of market expectations, helped by growth across its businesses.

Analysts on average were expecting adjusted pretax profit in the range of 105 million pounds to 112 million pounds ($131 million-$140 million) for the year to March 31, according to a company-compiled consensus.

HomeServe, which sells cover for household emergencies such as boiler breakdowns and burst water pipes, said the UK business, its largest unit, saw customer growth of 1 percent, while customer retention remained strong at 80 percent.

Income per customer continued to increase in the region, the company said, adding that it anticipated income per customer to increase further in the next financial year as customers buy wider cover. ($1 = 0.8009 pounds) (Reporting by Esha Vaish in Bengaluru; Editing by Amrutha Gayathri)

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