30th Apr 2015 06:44
LONDON (Alliance News) - Moneysupermarket.com Group PLC on Thursday reported a 25% rise in revenue in the first quarter, with improvements across its price comparison lines and good trading in its MoneySavingExpert.com and TravelSupermarket.com divisions.
The FTSE 250-listed price comparison said group revenue in the three months to the end of March was GBP76.6 million, up 25% year-on-year. Within the Moneysupermarket.com portal, insurance revenue rose 12%, money revenue rose 24%, and its home services business revenue more than doubled.
Insurance was boosted by service improvements made by the company, while the money growth was driven mostly by personal loans and credit cards. Current accounts also performed well due to attractive interests rates on offer from providers.
The home services business benefited from the collective switch offer and sustained consumer focus on energy prices, the company said, and it expects growth in the division to moderate over the course of the year.
Revenue in its MoneySavingExpert.com business was up 34% in the quarter, while Travelsupermarket.com revenue rose 13%.
"The first quarter saw strong growth across all three brands, with over 1.5 million families saving money on their household bills through the Moneysupermarket Group. As expected, second quarter growth is slowing from the 25% performance of the first quarter. Our technology investment programme is on track to make it easier for people to save money on whichever device they choose to access our site," said Chief Executive Peter Plumb.
By Sam Unsted; [email protected]; @SamUAtAlliance
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