Annual revenues hit new record at money saving website MONY Group

Final revenues have risen to record levels at MONY Group, formerly Moneysupermarket, it revealed today.

The business, based in Ewloe, near Chester, saw turnover increase by two per cent to £439.2m in the 12 months to December 31, 2024.

Pre-tax profits jumped from £92.1m to 3108.7m.

The board has recommended a final dividend of 9.2p per share (2023: 8.9p), making the proposed full year dividend 12.5p per share (2023: 12.1p).

By the year end net cash stood at £8.4m, compared with a £19.8m deficit the previous year.

The group enjoyed a seven per cent increase in revenues from its insurance business, to £235.6m, but experienced a seven per cent revenue fall to £36.1m in home services a five per cent fall in travel, at £19.6m, and a two per cent fall in money, at £97.8m. Cashback revenues rose by two per cent to £60.8m.

The group also announced the start of a share buyback scheme, up to a maximum value of £30m.

Chief executive, Peter Duffy, said: “We are proud to have helped customers save a record £2.9bn – the more customers save, the more the group grows.

“We’ve done this by delivering strong performance both operationally and financially in 2024 as we continue to execute on our strategy.

“This includes encouraging customers to join our member-based propositions like the SuperSaveClub which, in turn, reduces our reliance on increasingly expensive pay-per-click (PPC) marketing.”

He added: “This sustained momentum has enabled us to grow the dividend by three per cent this year, alongside the announcement of a share buyback programme of up to £30m, which will deliver enhanced returns to shareholders.

“This reflects our confidence in the continued execution of our strategy, and, importantly, means we retain significant capacity to support future growth.”

Looking ahead, the group said its recent trading performance, coupled with momentum in its strategic execution gives the board confidence that it will deliver Adjusted EBITDA for 2025 broadly within the current published consensus.

Market expectations for Adjusted EBITDA for 2025 from the analyst consensus on MONY Group’s investor website is £147m with a range of £143.1m to £151.7m.

The group said that, despite headwinds in the car insurance switching market, strength in its breadth provides it with resilience and it continues to see other opportunities for growth across the business.

It said it anticipates operating cost inflation – excluding depreciation and amortisation – to be largely mitigated through the ongoing focus on cost efficiency.

It said it remains well positioned to continue to deliver sustainable, profitable growth.

Russ Mould, investment director at Manchester investment platform, AJ Bell, said: “Moneysupermarket owner MONY Group had plenty of good news to grab investors’ attention including record full-year revenue and adjusted earnings, a hike in the dividend, a bumper buyback and a return to net cash.

“Households are under pressure to watch every penny and using comparison sites is a must for many people. This remains a competitive industry where marketing costs are a significant outlay, but MONY is gaining some traction in signing people up to its SuperSaveClub – offering customers free days out and other benefits.”

He added: “This is a cheaper route to securing customers and also makes them sticky. It now represents a meaningful portion of overall business.

“There were some less-positive signs, particularly looking at performance in the final three months of 2024, where growth in its key insurance segment slowed significantly.

“Specifically, the company does note a snarl-up in the car insurance switching market but the diversified nature of MONY’s offering means opportunities elsewhere could compensate.

“The market will also take some comfort from the group’s insistence any cost inflation can be mitigated through further efficiencies.”