Surge in profits at HomeServe

HomeServe today revealed a surge in profits over the last six months, helped by its European operations.

Profit before tax at the Walsall-based home repairs giant was up nine per cent to £25.6 million aided by the strong performance of its French arm Domeo.

Group revenue was also up eight per cent to £229.6m.

In the UK, where HomeServe is still being investigated over its sales tactics, customer numbers are down to 2.5m and the retention rate to 78 per cent. Complaints were also down by 42 per cent in the half year.

Chief executive Richard Harpin said: “HomeServe is making progress in transitioning its UK business to a smaller, more customer-focused operation and has delivered good growth in its international businesses.”