Updates

Homeserve - Customer retention still high

November 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Although the shares have re-traced to where we tipped them in May, Homeserve's latest update shows good progress in the half-year to 30 September. The UK saw gross new policy sales of a similar level to last year at 0.7m, while the customer retention rate remained high at 82.5%. In addition Homeserve is offering existing customers additional cover as part of an enhanced renewal offer, which is expected to deliver an additional 0.25m new policies. Customer numbers are expected to be 5% higher, with total policies 8% higher. Within the USA gross policy sales are expected to be 30% higher than last year, with customer numbers around 15% higher and retention at 81%. Elsewhere, Domeo, its French joint venture, achieved a 15% increase i ...

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