Homeserve

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HomeServe PLC
TypePublic
Traded asLSEHSV
IndustrySupport Services
Home emergencies and repairs
Founded1993
HeadquartersWalsall, West Midlands, UK
Key peopleJ M Barry Gibson Chairman
Richard Harpin CEO
Revenue£546.5 million (2013)[1]
Operating income£69.1 million (2013)[1]
Net income£41.9 million (2013)[1]
Websitewww.homeserveplc.com
 
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HomeServe PLC
TypePublic
Traded asLSEHSV
IndustrySupport Services
Home emergencies and repairs
Founded1993
HeadquartersWalsall, West Midlands, UK
Key peopleJ M Barry Gibson Chairman
Richard Harpin CEO
Revenue£546.5 million (2013)[1]
Operating income£69.1 million (2013)[1]
Net income£41.9 million (2013)[1]
Websitewww.homeserveplc.com

HomeServe PLC is a home emergency repairs business.

History[edit]

The Company was originally established by Richard Harpin in 1993 as a joint venture between South Staffordshire Water and himself under the name of Fastfix.[2] In 1994 the Company launched a plumbing and drainage service for customers under the Home Service Scheme brand.[2] It launched Doméo, a joint venture in France in 2001,[2] and Home Service in the USA in 2003.[2] The water business was demerged from the rest of the Group in 2004 and the name of the Company was changed to HomeServe PLC.[3]

The Company bought property repair company Reparalia in Spain in 2007,[2] the French warranty provider SFG in 2009[4] and National Grid's service contract business in the United States in 2010.[5] In 2010, it was also announced that HomeServe will be the official sponsor of Premier League football club West Bromwich Albion for the 2010/11 season.[2]

The Company suspended all sales activity amid claims of mis-selling by its call centre staff in 2011. Earlier in the year Homeserve was investigated by Ofcom after it was suggested call centre staff were ringing homes and then abandoning the calls before speaking, leaving customers with silence.[6] In February 2012 Homeserve announced that it was to lay off 200 staff[7] and in April 2012 Ofcom imposed a fine of £750,000 for making silent and abandoned calls to prospective customers.[8] In May 2012 they announced that they were facing an investigation by the Financial Services Authority over 'certain historic issues'.[9] In January 2014, the company received a £34m penalty for mis-selling practices.[10]

Operations[edit]

HomeServe provides boiler & heating repairs, plumbing repairs and appliance repairs. It also offers home emergency insurance extending to plumbing & drainage cover, boiler & heating insurance and landlords' insurance policies.[11]

References[edit]

External links[edit]