Homeserve (HSV) is selling peace of mind to its customers, but will its strategy deliver the same benefits to its investors?
A large chunk of Homeserve’s core membership business is mature with limited growth prospects. The exception to this is the US, where there is still more to go for. The company has made a big bet on online marketplace websites such as Checkatrade to deliver a step change in the company’s profit outlook. Will it pay off?