30th Oct 2015 07:34
LONDON (Alliance News) - Moneysupermarket.com Group PLC on Friday said it is confident of meeting its expectations for the full year despite an anticipated slowdown in revenue in the fourth quarter.
The price comparison company said group revenue increased 14% year-on-year to GBP76.2 million in the three months to September 30. Revenue for the nine months to that point was up 16% to GBP220.0 million.
"People are now seeing they can switch online and save money on far more than just car insurance. Our multi-channel offering across three brands has helped nearly five million families save over GBP200 on average on their bills in 2015, from energy to credit cards and broadband," Chief Executive Peter Plumb said in a statement.
Separately, Moneysupermarket said it is to pay 76% of the GBP27.0 million maximum possible in deferred amount and employee bonuses for MoneySavingExpert.com, which was acquired in September 2012.
The company said that GBP19.2 million of the GBP20.6 million payment is due to Martin Lewis, the founder of the company.
Martin Lewis became the executive chairman of MoneySavingExpert.com on September 22.
"Over the last three years, MoneySavingExpert has continued to thrive and grow, cutting millions of people's bills and fighting their corner. I am as excited as ever for the future of the site," Lewis said.
"On the back of receiving this payment the charity, Citizens Advice, will receive another GBP1 million. Also from my existing charity fund, both the Trussell Trust and the Personal Finance Education Group will get GBP500,000 to fund their important work in financial triage and education."
By Samuel Agini; [email protected]; @samuelagini
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