Website comparison firm announces it will be paying dividend this year

Website comparison firm Moneysupermarket.com has announced it is still planning to pay a dividend to shareholders.

The Cheshire firm announced revenues for the last year increased by two per cent to just over £107m in a market update.

Trading within Insurance was driven by travel and life. The firm’s search rankings have improved since Q4 2019 although the company continues to see some volatility.

During the first part of the quarter credit and banking returned to growth, however during March trading dynamics deteriorated.

Attractive offers from energy providers and large customer savings meant that Home Services trading was broadly in line with last year’s exceptional performance.

TravelSupermarket traded well at the start of the quarter but from mid-February trading weakened significantly from COVID-19.

Comparison services are particularly important to customers during uncertain times.

MoneySavingExpert has seen readership of its news section, which includes the Coronavirus financial guides, increase over 200%.

Mark Lewis, chief executive of Moneysupermarket group, said: “Having fully moved to remote working to support the health and safety of the team, we remain as committed as ever to help our customers through this crisis.

“As household incomes come under pressure, we continue to offer a broad range of deals for people looking to save. The MoneySavingExpert team continues to publish the most authoritative guides to help people navigate the impact of Coronavirus on their finances.

“This situation is continuing to develop but we in turn will continue to do all we can to help our customers at this difficult time.