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Date: Wednesday 27 Aug 2008

LONDON (ShareCast) - Price comparison site Moneysupermarket.com saw half-year profits surge and announced a maiden interim dividend but warned second half revenue growth will be slower than the first half.

“Our second half revenue growth will be solid, albeit slower than the first half. Overall, in the longer term price comparison remains a large and growing sector and we will continue to invest to enhance our leading and diversified market position,” said CEO Simon Nixon.

Pre-tax profit for the six months jumped to £14.3m from £6.7m before on revenue that increased 27% to £99.4m. Internet revenues rose by 30% to £95.3m.

Maiden interim dividend came in at 1.3p per share and the group said it intends to increase dividend payout ratio to approximately 50% of adjusted net profits.

“The results for the first half of the year demonstrate the resilience of our diversified business model. We have seen the Insurance, Travel and Home Services businesses continue to develop and grow quickly as consumers seek to maximise the buying power of their disposable income as economic conditions have worsened,” said the group.

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