Revenue at home maintenance specialists HomeServe has rocketed to more than £1 billion, as pre-tax profits rise by 13 per cent.
The company has today (21 May) published its preliminary results for the year ending 31 March, which show it made £139.5 million in statutory pre-tax profits in 2018/19, an increase of 13 per cent on the £123.3 million posted the previous year.
Revenue across the company has also jumped by 12 per cent, from £899.7 million last year to £1,003.6 million this year.
The latest figures also show adjusted operating profit in its UK division has risen by 8 per cent to £66 million, with income per customer up 15 per cent as the business “continued its focus on delivering additional products to customers”.
And pro-forma revenue growth at Checkatrade is up a third (33 per cent) with a 23 per cent increase in trades to £36,000.
In February, Co-op Energy signed a five-year contract with HomeServe to offer insurance policies to its 370,000 customers.
The deal will enable them to buy policies covering repairs to electrics, plumbing, central heating and boilers, all delivered under Co-op’s branding.
“HomeServe delivered another very good year with further profit growth across the group. North America was once again the outstanding performer and our progress there continues at pace,” said founder and chief executive, Richard Harpin.
“Allied to good performances in the UK, France and Spain, our Membership business is strong and I remain excited about its prospects.
“Checkatrade is already making great strides to strengthen its position as the UK market leader and offer an even better trade and consumer experience. In Home Experts we have a business line with huge potential. The progress we have made this year has confirmed that we are developing a winning model and gives us the confidence to increase our annual investment,” added Harpin.
“Our mission is to make home repairs and improvements easy for both homeowners and trades and I remain as passionate as ever about our efforts to provide great service to achieve this.”