Homeserve taking on more customers

The firm, which operates across the UK, continental Europe and the United States, delivered underlying pre-tax profits of 100.6m in the year to March 31 after seeing strong growth in the UK and overseas.

Homeserve, headquartered in Walsall in the West Midlands, said customer numbers increased by 3 per cent in the UK and 8 per cent worldwide.

The group also made its first operating profit in the US and said it had secured two new large partner deals in America.

In the UK, customer retention was held at 82.5 per cent, helped by the introduction of a customer magazine, personalised renewals notices and improved call centre efficiency.

Its manufacturer warranty arm notched up a 17 per cent hike in policies to 387,000, with vacuum brand Dyson among the new firms signed up during the year.

Homeserve launched a marketing push to attract and retain customers in the UK and said it would remain focused on this for the year ahead, with aims for another 3 per cent to 4 per cent in customer growth.

But the retention rate is expected to reduce to 81.5 per cent.

Barry Gibson, chairman of Homeserve, said: "We have made a positive start to the new financial year with all of our membership businesses performing well."