Revenues at Moneysupermarket close in on £200m mark thanks to acquisition

Mark Lewis

Operating profit increased by 18% to £61.4m at the Cheshire based online firm Moneysupermarket.

The firm issued a positive set of interim results this morning.

Group revenue rose by 15% to just under £200m and profit before tax was up by 18% to £50.2m.

The firm said the firm had seen encouraging trading with revenue growth ahead of the market for the six months.

Its Reinvent strategy continues to reaccelerate core growth and unlock new market growth.

Revenue growth was driven by exceptional energy switching, the acquisition of Decision Tech in August 2018 and ongoing customer experience optimisation.

Strong operating cash generation of £51.4m during the period, increased 20% year on year.

Mark Lewis, chief executive of Moneysupermarket group, said: “We grew the business strongly in the first half, already helping households save over £1bn this year, particularly after the energy price cap came in and then went up.

“Millions of people faced rising energy bills and we helped many of them to find a better deal, saving them hundreds of pounds in just a few minutes on our sites.

“Our Reinvent strategy continues to make it easier and quicker to save and is now supported by the new MoneySuperMarket branding, which encourages people to ‘Get Money Calm’ by using our site to pay less across a broad range of bills.”

The board is confident of delivering market expectations for the year.

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