Repair and insurance group HomeServe has revealed another giant leap in profits and sales after growing the business internationally.
Walsall-based HomeServe (HSV) saw revenue rise by 14 per cent, to £534.7 million, in the 12 months to March 31, in spite of tough conditions in the UK market.
The company, which has grown consistently in recent years, saw pre-tax profit rise by 32 per cent, to £138 million, on a statutory basis on the back of the increase in revenue.
Richard Harpin, chief executive of HomeServe, said the rise came on the back of improved returns internationally.
He said: “It has been a challenging year for our UK business, however, we continue to make strong progress in developing our International businesses.
“We took swift and comprehensive action to address the issues that we identified in the UK and are totally committed to restoring our customer focus. We are strengthening our management teams, retraining staff and continuing to make significant investments in customer service.
“In the UK we are planning to create a smaller, more focused and sustainable business from which to grow. We remain excited about the growth opportunities in our International markets.
“We carried out over 1.6 million repairs for customers last year, demonstrating that our products and services continue to meet real customer needs both in the UK and our International markets.”
The Post reported earlier this year that HomeServe had been fined £750,000 by Ofcom for making an excessive number of silent and abandoned calls.
HomeServe exceeded the limit on the number of abandoned calls it is allowed to make on 42 separate occasions during February 1 and March 21 last year, the communications regulator said.