Homeserve H1 Profit Climbs; Acquisition By Brookfield To Complete By Early 2023

Home repairs and improvements business HomeServe plc (HSV.L), which is in deal to be bought by Brookfield Infrastructure Partners L.P., Tuesday reported that its first-half profit before tax climbed 19 percent to 22.4 million pounds from last year's 18.9 million pounds.

Basic earnings per share were 4.6 pence, up 17 percent from 3.9 pence a year ago.

Adjusted profit before tax was 54.6 million pounds, compared to 42.2 million pounds last year. Adjusted earnings per share were 12.1 pence, compared to 9.0 pence last year.

Revenue grew 17 percent to 714.4 million pounds from 610.5 million pounds in the prior year. Revenues increased 10 percent at constant currency rates.

Further, the company said the its acquisition by Brookfield is on track to complete by early 2023 at the latest.

Separately, HomeServe confirmed that as previously reported, Stella David will step down from the Board on November 23.

David was appointed to the HomeServe Board in 2010, was Senior Independent Director and Chair of the Remuneration Committee from 2015 to 2018. She has been particularly instrumental in formulating the Company's People strategy as Chair of the People Committee.

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