(Alliance News) - HomeServe PLC on Tuesday said that adjusted pretax profit for the 2021 financial year increased in line with consensus expectations, while its UK customer base shrank.
Shares were down 1.5% to 1,194.00 pence in London. The wider FTSE 250 index was up 1.1%.
Adjusted pretax profit for the financial year that ended March 31 is expected to be around GBP191 million, up 5.5% from GBP181.0 million the previous year, HomeServe said. The home repairs company reported 6.8% organic customer growth in North America, to 4.7 million from 4.4 million. However, its number of UK customers fell 11% to 1.6 million from 1.8 million.
The West Midlands-based company made a total of 22 acquisitions, up from 15 the previous year. Net debt rose to around GBP530.0 million from GBP509.0 million, and now stands at around 1.8 times earnings before interest, tax, depreciation and amortisation.
HomeServe will report its results on May 18.
By Ivan Edwards; ivanedwards@alliancenews.com
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