HomeServe suffers blow to UK revenue following regulatory problems
HomeServe has reported improved revenue of £534.7m for the year ended March 2012, but regulatory difficulties in the UK business made an impact.
This is a 14% increase from the £467.1m revenue reported for 2011.
UK revenue was down, to £353.5m from £358.9m in 2011, which was attributed to the suspension of sales and marketing activities in October 2011 following a mis-selling review.
The company also blamed these measures for lower customer and policy numbers, with retention down to 80% for 2012 (2011: 83%).
Richard Harpin, chief executive, said: "We expect the number of new customers acquired to reduce and for total UK customer numbers
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