Homeserve H1 Profit Surges, Lifts Dividend; Backs FY22 View - Quick Facts

HomeServe plc (HSV.L), a home repairs and improvements business, Tuesday reported that its first-half profit before tax climbed 86 percent to 18.9 million pounds from last year's 10.1 million pounds.

Basic earnings per share were 3.9 pence, up 93 percent from 2.0 pence a year ago.

Adjusted profit before tax was 42.2 million pounds, compared to 33.1 million pounds in the prior year. Adjusted earnings per share were 9.0 pence, compared to 7.1 pence a year ago.

Adjusted EBITDA grew 6 percent from last year to 88.8 million pounds.

Revenue for the first half increased 14 percent to 610.5 million pounds from last year's 536.7 million pounds. Revenue increased 20 percent at constant currency rates.

The results were driven by strong performance in North America, Home Experts and Continental Europe.

Further, the company announced interim dividend of 6.8p per share, an increase of 10 percent, which will be paid on January 7, 2022 to shareholders on the register on December 10, 2021. The dividend growth reflects strong performance and continued confidence in the growth prospects.

Looking ahead, HomeServe continues to expect to deliver an acceleration in performance in fiscal 2022 compared to fiscal 2021.

Richard Harpin, Founder and Group Chief Executive, HomeServe, said, "Our ambitions for the current financial year are unchanged, which means that we expect to deliver an acceleration in performance this year, followed by significant longer term growth. Creativity, delivery and momentum have never been stronger."

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