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HomeServe Says Its Performance In Line With View

HomeServe plc (HSV.L) said that its new financial year has started well, and performance is in line with expectations and guidance given in May.

HomeServe stated in May that it expects further strong growth in fiscal year 2020, with increased P&L investment in Home Experts offset by strong performance in Membership, particularly in North America.

HomeServe announced a new medium to long-term adjusted operating profit milestone of $230 million, based on recruiting 6 million -7 million customers, achieving income per customer of $120- $125.

HomeServe also said that it has completed the acquisition of the remaining 30% of Habitissimo, its Spanish Home Experts business for 8.6 million euros.

HomeServe confirmed that it entered into the whole home warranty market in North America, with the launch of its Total Home Protection product. It also announced acquisition of American Home Guardian.

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