HomeServe remains confident of delivering full-year growth after solid start to 2016

Dee Valley Water-partnered repair services provider has added 400,000 US customers this year.

Home emergency business HomeServe said on Friday (15 July 2016) that it was trading in line with expectations and was confident of delivering full-year growth. In a trading update for the three months to 15 July, which represented the first quarter of the company's financial year, the FTSE 250 group said its businesses in the UK and across a number of European markets had performed in line with expectations.

Earlier this month, HomeServe's UK business signed an an affinity partnership with Dee Valley Water, which provides water services to more than 250,000 customers in North East Wales and North West Cheshire.

The London-listed company added it has continued to build the prospect pipeline for its US business, which recently added 400,000 customers to HomeServe's books and brought the total number of US customers up to 2.7 million after acquiring Utility Service Partners.

HomeServe said that, as usual, trading would be weighted towards the second half of its financial year, reflecting the seasonality of the company's marketing activity and associated renewals profile.

Despite the positive trading update, however, shares in HomeServe were down 1.28% early in the session.