Moneysupermarket in line for £108m year-end profit
Moneysupermarket.com, headquartered near Chester, is expecting revenues to grow by 12% to £316m with operating profit up 8% to £108m at its year end.
The company’s performance seems apparently undimmed by its status as having one of the top 10 most complained about TV adverts, featuring dancing bodyguard Gary.
Results for its full year will be announced on February 28, but the listed company, based at Ewloe, has previewed the good news in a trading update.
The company’s biggest growth was in the insurance sector. Year to December growth was up 30% to £37.4m and home services grew 17% to £11.9m.
The core money business, credit cards and unsecured personal loans, delivered good growth, while interest rate cuts have weakened both savings and current account switching.
Chief executive Peter Plumb said: “20% growth in the final quarter of 2016 closes off another good year for Moneysupermarket Group.
“We helped nearly seven million families save an estimated £1.8bn on their household bills last year. Our technology, data and brand investment programmes are positioning the Group to continue to lead the market and help more families save money across a growing range of products in the years ahead.”
Meanwhile, Mark Lewis will be appointed as executive director of the company on March 13 and following a handover will become chief executive on April 10.
