HomeServe PLC, the home repairs and improvements business, said it made good strategic progress in each of its three business divisions for the year to end-March 2022.
“HomeServe made very good progress in FY22, strategically and financially, delivering an acceleration in performance compared to FY21, in line with expectations,” the FTSE 250 company said in a trading update.
It said its customer satisfaction remained high with global policy retention climbing to 84% versus 83% the previous year.
North American Membership & HVAC delivered a strong financial performance, despite the effects of the omicron COVID-19 variant which are still being felt by HomeServe and its affinity partners, it said. Its policy retention was unchanged at 85% and affinity partner households grew by a net 7mln to 73mln.
The EMEA Membership & HVAC division continued to deliver on its transformation and growth agendas, the company said. In the UK, there was good early progress on the business's transformation plan, with customer numbers ending the year in line with expectations and policy retention up on last year, and France and Spain also performing well.
The Home Experts division was profitable for the first time on a full-year basis, mainly due to a 3,000 increase in the number of paying trades on the Checkatrade website.
The company plans to release its full-year results on 24 May.