Shares in international home repair business Homeserve (LON:HSV) rose nearly 10 percent in early trading on Thursday, after updating the markets on positive progress.
The group published a trading update ahead of its financial results for the full year ended 31 March 2017. It confirmed that it was likely to report results at the upper end of market expectations, with analysts on average expecting adjusted pretax profit in the range of £105 million to £112 million for the full year.
The company signed several new partnerships over the course of the year, launching a new range of products with insurance giant Aviva, Aviva Response, powered by HomeServe and sold through Aviva’s marketing channels.
It also partnered with Edison Energia in Italy and accelerated business with proposition Checkatrade in the UK and Habitissimo in Spain.
Richard Harpin, Chief Executive of HomeServe, commented:
“I am delighted with our performance this year. Given the strength of our strategic and operational progress, we anticipate delivering a performance at the upper end of expectations for the year ended 31 March 2017. This progress, combined with excellent prospects in all our businesses will provide the platform for further strong growth next year.”
Homeserve shares are currnetly up 7.77 percent at 610.50 (1011GMT).