Walsall-based HomeServe reveals strong growth so far this year

The Walsall-based company says its trading is in line with predictions when it revealed its annual results in May, with continued strong growth in the current financial year.

As its shareholders met today for the company's annual general meeting, the company said that, as previously disclosed, its business continues to be highly seasonal with trading in the current year expected to be "more significantly weighted towards the second half".

HomeServe, with around 1,100 people now working at its Green Lane headquarters in Walsall, said its business in North America had maintained strong momentum with 2.5 million new households added in the period, driven by signing up 24 new partners.

The company now has access to 53 million households in North America and serves 3.1 million customers.

In the UK, its HomeServe Membership business is performing 'as anticipated'. It said future growth initiaties were focused on developing a full heating repair, service and installation business, and on expanding partnerships in the insurance industry through the deployment of it's LeakBot water leak detector. This digital device clips on to a water pipe and can detect the early signs of a leak anywhere in the house, then broadcasting the information to the householder's smartphone.

HomeServe believes it can help save the insurance industry millions of pounds a year in damage repairs.

Meanwhile, the group says its performance in France, Spain and Italy is also on track, with all three businesses focused on developing new and existing partnerships.

HomeServe is expanding its business from the home assistance sector into the much broader home repairs and improvements market. Following its £37 million 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.