Moneysupermarket on track for record year

PRICE comparison business Moneysupermarket.com Group is on course for a record full-year performance after reporting a strong third quarter performance with year-on-year revenue climbing 12% to £84.6m.

The company, headquartered at Ewloe near Chester, has built momentum throughout the whole year with revenue in the year to date up 10% to £242.5m compared to 2015.

The group said it was benefiting from its diversified portfolio aimed at helping every household make the most of their money.

Its main drivers in the third quarter were strong growth in insurance helped by its investment in technology and the benefit of enhanced data interaction with providers.

Its core market of credit cards and loans contributed to high single digit growth, but low interest rates significantly depressed savings switching.

Energy continued its impressive growth trajectory with MoneySavingExpert running its biggest ever collective switch, which ended on the  October 3.

TravelSupermarket turnaround is on track in preparation for the key January trading period.

Peter Plumb, chief executive of Moneysupermarket.com Group, said: “The group is on track for a record year, insurance is back to strong growth and MoneySavingExpert’s latest collective energy switch was the biggest ever; helping over 180,000 households cut their annual energy bills.

“Our technology platform is allowing innovative services to be pioneered, including MoneySavingExpert’s Credit Club and MoneySuperMarket’s mobile App service.

“Moneysupermarket is well placed to lead the market in helping many more households save more money on their household bills in the years ahead.”