14th Jul 2016 06:39
LONDON (Alliance News) - Price comparison service MoneySupermarket.com Group PLC on Thursday said it expects revenue for the first half of 2016 to grow around 10% year-on-year following a good performance across its divisions.
MoneySupermarket said its anticipates revenue for the six months to the end of June will grow to GBP158.0 million, up 10% year-on-year. Revenue grew the same 10% in the second quarter to GBP74.0 million.
Adjusted operating profit, which strips out acquisition-related and one-off costs, is set to grow around 6.0% year-on-year in the half to GBP54.0 million, behind the revenue growth due to additional marketing spending.
The FTSE 250-listed company said it remains in line with meet full-year market expectations.
In the half, MoneySupermarket said it saw good growth across its business lines, with momentum returning for its Insurance vertical and significant growth in its Home Services business, driven by exclusive energy deals. Money revenue also grew, led by balance transfer credit cards.
The firm said the MoneySavingExpert and TravelSupermarket brands both performed in line with expectations. Revenue rose by 32% in the half and 20% in the second quarter at the former, but fell 19% in the half and 14% in the quarter in the latter.
"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," said Chief Executive Peter Plumb.
"Moneysupermarket is a pure play digital business, with a strong balance sheet and a new technology platform built to deliver personalised market leading services no matter what device people use to manage their money in the turbulent years ahead," he added.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Moneysupermarket.Com