HomeServe gripes fall

HomeServe, the repair and insurance group under investigation by the Financial Services Authority over concerns about mis-selling, said customer complaints had fallen as it made changes which the regulator had asked for.

HomeServe, which fixes and sells cover for boilers and burst pipes, said it expected to have about 2.5 million UK customers at the end of September, down from 3 million a year ago, and would meet its targeted 80 per cent retention rate for the year.

The company also said its operations in France, where it now owns all of the local business Doméo, were performing well, and that on the back of this it now expected overall adjusted pre-tax profit for the six months to end of September to be above the £23.5m it reported last year.