Moneysupermarket strategy pays off as business sees a return to profit growth
Chester based Moneysupermarket said a major review of the business has resulted in a growth in profits over the last year.
Group revenues increased by nine per cent to £388m and profit before tax was up by 10 per cent to £94.9m.
An adjusted EBITDA of £141.5m was in line with expectations.
The firm released its final results and said continued strong operating cash generation of £113.7m has resulted in £100m in dividends distributed to shareholders during the year.
The firm’s Reinvent strategy is starting to have an effect on the business.
There are now over 600,000 Moneysupermarket customers using monitoring services.
As a result the firm is seeing higher customer engagement and value uplifts from customers.
Mark Lewis, chief executive of Moneysupermarket Group, said: “It’s good to report the group returned to profit growth and once again helped UK households save over £2bn on their bills.
“Innovation will continue in 2020 as MoneySavingExpert, the most trusted brand for finding energy deals, launches a new energy autoswitching service.”
Overall trading dynamics have improved in the first six weeks of 2020. Home Services has traded in line with the prior year, despite the strong comparative. The Board is confident of delivering market expectations for the year.
