StockMarketWire.com - Home repairs and improvements group HomeServe said it expected to top annual profit expectations thanks to 'strong' growth in its membership business.

The company, however, also said it was cutting spending due to uncertainty created by the Covid-19 crisis.

As for its dividend, Homeserve said it would consider its position in advance of the publication of its full-year results, planned for 19 May.

Adjusted pre-tax profit for the year through March 2020 was expected to rise 12% to £181m on-year, ahead of consensus expectations at of £179.4m.

Strong profit growth in membership, funded increased investment in the home experts and new markets segments.

In Japan, marketing got off to a good start with a related joint venture's first utility partner, Chugoku Electric, signed in January 2020 with 2.9m households, the company said.

Marketing initiatives at Checkatrade increased revenue by about 30%; the number of trades on the platform grew 9% to about 39k and consumer web visits were up 32% to about 24m.

HomeServe said it remained 'highly' cash generative and well funded.

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