Moneysupermarket says it is on track despite dip in insurance market

Mark Lewis

Revenues at comparison website Moneysupermrket.Com were up six per cent to just over £270m in the first nine months of the year.

The Chester based firm has put out a trading statement this morning.

The company said its insurance remained in growth despite a falling premium cycle.

Meanwhile, positive momentum in Money continued, supported by attractive products and improving conversion.

Switching rates in energy remained strong against tough comparatives. Good provider offers and the work the firm has done on customer experience meant the division performed well ahead of the outlook set out at the interim results.

Other revenues includes £4.6m linked to acquisition of Decision Technologies, which completed in early August.

This was offset by package holidays and car hire which were both affected by the summer’s hot weather.

Chief executive Mark Lewis said: “Trading continues on track as we reinvent the business to help our customers save more money.

“Decision Tech is now on board with its B2B comparison expertise. Energy switching in our home services business was better than expected with customers taking advantage of great 18 month fixed deals to beat rising prices.”

The group said it continues to benefit from its diversified portfolio, built to help households save money.

The board remains confident of meeting current market expectations for the full year.

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