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HomeServe Reports Further Profit Growth In FY - Quick Facts

HomeServe plc (HSV.L) reported that the Group delivered 13% growth in profit before tax for the year ended 31 March 2019 principally driven by strong growth in North America. Looking forward, HomeServe expects to deliver further strong growth in fiscal 2020, with the increased P&L investment in Home Experts to be offset by strong performance in Membership, particularly North America.

For the fiscal year period, pretax profit increased to 139.5 million pounds from 123.3 million pounds, prior year. Earnings per share was 32.3 pence compared to 29.7 pence. Adjusted profit before tax improved 14% to 161.7 million pounds from 141.7 million pounds. Adjusted earnings per share was 37.0 pence compared to 33.1 pence.

Fiscal year Group revenue was 1.0 billion pounds compared to 899.7 million pounds, last year. Pro forma revenue growth was 33% at Checkatrade and a 23% increase in trades. Total customers at the year end were 8.4 million, flat with prior year, as strong growth in North America was offset by expected declines in Spain.

The Board proposed to increase the final dividend to 16.2 pence per share to be paid on 2 August 2019 to shareholders on the register on 5 July 2019. Together with the interim dividend, this represents a 12% increase in the total ordinary dividend payment for the year of 21.4 pence.

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