Moneysupermarket.com cashing in on new boom in switching

A new boom in insurance and energy switching as hard-pressed families look to save cash has put Cheshire-based price comparison website Moneysupermarket.com back on track for a record year, according to its chief executive Mark Lewis.

The company headquartered near Chester saw year-on-year turnover increase 6% to £90m in Q3 and 5% for the nine months period to £255.5m, both periods ending on September 30.

The key driver was the continued strong performance in insurance switching which brought in £47.2m of the third-quarter revenue and £135.8m over the nine-months.

Over the nine-month period, Home Services, which includes energy switching, brought £30.7m, up 21%.

Lewis said: “We are on track for another record year because we are helping more people save more money across their household bills: from insurance and credit cards to holidays, broadband and energy.

“We’re particularly encouraged by the continued growth of insurance, and momentum in energy switching, as families look to find better deals.

“Our message to customers is clear – don’t kid yourself that the energy price cap will be the answer, if you haven’t switched recently you can quickly and easily save £250 today, by switching to a competitive fixed rate.”

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