Home maintenance firm Homeserve has revealed that profits for this year will be at the top end of market forecasts after seeing strong levels of policy renewals.

The Walsall-based firm said it had hit its customer growth target of three per cent in the UK, with 1.8 million of new sales, compared to 1.83 million the year before.

Renewals levels remained high during the freezing weather in February and into March, with the retention rate for the full year predicted to be 82.5 per cent, and total policies of 7.5 million.

In the US, Homeserve expects customer growth in excess of 25 per cent and gross new policy sales of 270,000 – up from 246,000 they year before.

The group said: “Discussions with a number of utilities are progressing very well as we look to expand the number of partners in the US and our footprint of marketable households.”

Homeserve also announced, in a trading statement, that its French business, Domeo, has seen customer growth of 13 per cent.