Home emergency repairs group Homeserve revealed yesterday that its abortive bid to take over warranties specialist Domestic & General had cost £2.2 million.
The one-off expense contributed to a three per cent fall in interim profits at the fast-growing, Walsall-based company that was spun out of the old South Staffs Water group in 2004.
All the other headline figures in yesterday’s half-time report, however, were in positive territory.
Revenues for the six months to September 30 were 20 per cent ahead at £247.5 million while operating profit rose by 25 per cent to £21.6 million.
The D&G costs, combined with amortisation of some acquisition costs, helped to knock the pretax profit figure down to £12.9 million from £13.3 million in the same six months last year.