4th Mar 2014 09:21
LONDON (Alliance News) - Moneysupermarket.com Group PLC Tuesday declared a 12.92 pence special dividend as it reported a 37% increase in 2013 pretax profits, buoyed by strong performances from travel verticals and home services.
The price comparison website also increased its ordinary dividend to 7.28 pence from 5.74 pence.
Pretax profits rose to GBP43.1 million, up from GBP31.5 million in 2012, boosted by a 10% increase in revenue to GBP225.6 million and a lower cost of sales.
That meant gross profit rose by 15%, reaching GBP175.4 million, while distribution expenses and administrative expenses together rose by just 8.9% to GBP130.9 million. The FTSE 250 company said higher margins were most due to the acquisition of MoneySavingExpert.com in September 2012.
Moneysupermarket.com said trading in the first two months of the new financial year has been "satisfactory", with revenues a "mid single digit ahead of the same period last year".
Chief Executive Peter Plumb said investment in the business had paid off but said the price comparison site wouldn't rest on its laurels.
"We won't stand still - we'll build on our innovation in 2013 by doubling our capital investment for 2014, and bringing market leading services in Travel and Insurance to customers' mobiles and desktops," Plumb said in a statement.
Moneysupermarket.com shares were Tuesday quoted at 188.50 pence, up 4.7%.
By Samuel Agini; [email protected]; @samuelagini
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