HOMESERVE PLC

TRADING UPDATE

LONDON - 21 July 2017 - HomeServe, the international home repairs and improvements business, publishes the following trading update for the period 1 April to 20 July 2017, to coincide with its Annual General Meeting which takes place today.

Trading for the period was in line with the expectation HomeServe reported at its Preliminary Results on 23 May 2017 of continued strong growth in the current financial year. As previously disclosed, HomeServe's business continues to be highly seasonal, with FY18 trading expected to be more significantly weighted towards the second half.

Momentum in North America remains strong with 2.5 million new households added in the period, driven by 24 new partner signings. HomeServe now has access to 53 million households in North America, and serves 3.1 million customers.    

HomeServe's UK business is performing as anticipated. Future growth initiatives are focused on developing a full heating repair, service and installation business, and on expanding partnerships in the insurance industry through the deployment of HomeServe's LeakBot water leak detector.

Performance in France, Spain and Italy is also on track, with all three businesses focused on developing new and existing partnerships. 

As announced previously, HomeServe is expanding its business from the home assistance sector into the much broader home repairs and improvements market. Following the investments last year in Checkatrade in the UK and Habitissimo in Spain, early testing is under way for a range of new propositions, including a guarantee-backed model in Scotland and a payment platform for contractors in Madrid.

HomeServe plans to announce its interim results for the six months to 30 September 2017 on 21 November 2017.

Contacts

About HomeServe

HomeServe is an international home repairs and improvements business, with 7.8 million customers in the UK, North America, France, Spain and Italy as at March 2017. Its comprehensive range of water, heating and electrical assistance and repair products provide customers with peace of mind. HomeServe is listed on the London Stock Exchange, with a market capitalisation of £2.2 billion.

Forward-looking statements

This announcement contains forward-looking statements with respect to the financial condition, results and business of HomeServe plc. By their nature, forward-looking statements involve risk and uncertainty because they relate to events, and depend on circumstances, that will occur in the future. HomeServe's actual future results may differ materially from the results expressed or implied in these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.

ENDS