Half Year Results 

HomeServe marches on in US

HomeServe marches on in US

North America continued to propel growth at home repairs business HomeServe (HSV) in the first half of FY2020, with adjusted operating profit from the region surging by 32 per cent to £18.5m. This came amid a 13 per cent increase in customer numbers to 4.2m, meaning the segment now accounts for over half the entire customer base. A post-period agreement to purchase a 79 per cent stake in eLocal Holdings has permitted entry into the home experts market there. The acquisition is expected to add $5m (£3.9m) to group adjusted operating profit in 2020, rising to a $16m contribution in 2021.

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