Marketing spend boosts Moneysupermarket

ONLINE price comparison site Moneysupermarket.com’s sales for 2011 are likely to increase by 20% to £178m (2010: £48.9m).

The company said in a trading statement that 2010’s adjusted earnings figure of £41m is also likely to increase by around 21%.

“The group continued to trade well in the fourth quarter, with revenues up 19% year-on-year, supported by higher levels of marketing spend.

“Revenues and EBITDA therefore each increased by around 16% in the second half compared to the same period in the prior year.”

It added that its financial position remains strong and that by the end of the year it had cash reserves of £34.9m.