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Homeserve FY Pre-tax Profit Down; Sees Solid Performance In FY21 - Quick Facts

Homeserve Plc (HSV.L) reported that its profit before tax for fiscal year 2020 declined to 137.9 million pounds from last year's 139.5 million pounds, as underlying profit growth was offset by net exceptional charges of 7.6 million pounds recorded principally in the UK in relation to the Group's LeakBot asset.

Profit attributable to equity holders of the parent for the year declined to 106.0 million pounds or 31.5 pence per share from 108.5 million pounds or 32.3 pence per share in the previous year.

On an adjusted basis, earnings per share increased to 41.0 pence from 37.0 pence in the prior year.

The company reported a strong operational performance driven by profit growth in all Membership businesses resulted in a 12% growth in adjusted profit before tax to 181.0 million pounds.

Revenue for the year grew to 1.13 billion pounds from 1.00 billion pounds in the prior year.

In North America, total revenue increased by 25% to $546.1 million and total adjusted operating profit increased by 23% to $108.6 million as North America continued its strong growth trajectory.

The company expects to deliver a solid performance in fiscal year 2021, with its prospects for growth thereafter unchanged.

The Board proposes a final dividend of 17.8 pence, to take the total dividend for the year to 23.6 pence, up 10% and in line with earnings growth.

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