MoneySupermarket expects 26% earnings rise
PRICE comparison website MoneySupermarket.com expects earnings for 2012 to jump by 26%.
In a pre-close trading statement, the Ewloe-based business said earnings before interest, tax, depreciation and amortisation (EBITDA) should come in at £66m, although £4.5m of this is from a VAT refund.
Revenues are up 15% from £178.5m to £204.5m.
The business’s profits have been buoyed by the acquisition of Martin Lewis’ MoneySavingExpert.com for some £87m.
It has already contributed adjusted earnings of £2.8m to the group and accounted for 4% of an 18% growth in fourth quarter revenues.
MoneySupermarket said there had been lower demand for savings products but this had been offset by improved trading in insurance, home services and travel.
At December 31 the group had cash of £17.7m and no debt, having already repaid debt associated with the MoneySavingExpert.com deal which completed in September.
