Moneysupermarket.com expects 10% revenue growth in first half
Price comparison website Moneysupermarket.com said it expects solid first-half results, with revenues seen growing by 10% year-on-year.
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Meanwhile, adjusted operating profit is expected to edge up 6% to around £54m as the group is making some additional market investment.
In a trading statement on Thursday, the company said group revenue for the six months to 30 June is expected to rise 10% year-on-year to £157.6m, while revenues for the three months to 30 June were up 10% to £74m.
MoneySuperMarket.com revenues were up 12% year-on-year to £142.1m in the half and 13% higher in the second quarter to £66.2m.
Revenues at MoneySavingExpert rose 32% to £19.3m in the half and 20% to £8.1m in the quarter. However, TravelSuperMarket saw a 19% drop in revenues to £11.1m in the half and a 14% decline in the second quarter to £5.8m. This was in line with the group’s expectations.
The company, which remains confident of meeting its full-year expectations, said momentum returned to Insurance across all product groups and Money continued to deliver strong and broad-based growth led by balance transfer credit cards.
Meanwhile, exclusive energy offers helped to underpin results in Home Services.
Chief executive officer Peter Plumb said: “Moneysupermarket made another strong start to the year, growing revenues by 10% and saving customers a record £890m.
"As UK families prepare for life after the Brexit vote, with potentially rising energy prices, rising insurance prices and lower interest rates, our trusted brands and services will be there to make sure household bills are as low and easy to switch as possible.”