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Homeserve FY Pre-Tax Profit Surges

HomeServe plc (HSV.L), a home repairs and improvements business, Tuesday posted a surge in its pre-tax profit for the full year, with 10 percent growth in revenue, driven by continued growth in North America, good progress across EMEA and a first profitable year in Home Experts

The Group's statutory profit before tax for the year surged to 175.1 million pounds from 47.2 million pounds, in the absence of year-ago exceptional charges, while adjusted profit before tax increased to 220.3 million pounds from 191.3 million pounds last year.

On a per share basis, earnings for the year increased to 39.3 pence from 9.2 pence, while, on an adjusted basis, earnings grew to 49.3 pence from 42.7 pence.

Statutory operating profit for the year grew to 202.6 million pounds from 71.8 million pounds. For the fiscal year, the Group's revenue rose by 10 percent to 1.43 billion pounds from last year's 1.30 billion pounds.

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