Household emergency repairs and maintenance firm Homeserve has reported a strong financial position with net debt dropping by £17 million.
The Walsall-based company reported it owed £26 million at the end of June compared to £43 million in the first three months of the year.
The company said it was also hoping to attract 200,000 new customers following a highly-publicised mis-selling crisis that cost £24 mllion and lead to 200 job losses last year. It was also hopeful of retaining 80 per cent of its currrent customer base.
A management statement said the business was trading in line with expectations. In the first four months of the current financial year it increased UK customer marketing activity and improved its retention rate. It said its International businesses were also continuing to grow customer numbers.
It said trading would be heavier towards the second half of the financial year, in line with the seasonality of the marketing activity and associated renewals profile.
The statement added: “We are making progress towards achieving our target of 200,000 gross new customers during 2014 with our direct mail, digital and sales through partner call centres marketing activity in line with expectations.
“We are also on track to achieve our targets of around 1.9 million customers at March 2014 and a retention rate of around 80 per cent.”
It added that it continued to co-operate with the Financial Conduct Authority following an investigation into the company’s selling activities.