Homeserve profits rise as Brookfield takeover nears completion

Home repairs provider Homeserve reported a rise in interim profits despite the cost-of-living crisis.

The company, which is about to be taken over by asset manager Brookfield in a £4bn deal, posted a 19% rise in pre-tax profit to £22.4m.

Revenue rose 17% to £714.4m. The said the takeover by Brookfield was on track to complete by early next year.

"All necessary regulatory and competition approvals have now been obtained in the U.K. and Continental Europe. In the U.S., the only outstanding approvals required are from two state insurance regulators. If the remaining approvals do not arrive in time to complete the transaction before the end of 2022, completion is expected to occur early in 2023," it said.

Reporting by Frank Prenesti for Sharecast.com