Moneysupermarket in £40m share buyback

Moneysupermarket.com, headquartered near Chester, has announced plans to repurchase shares worth up to £40m over the next financial year.

The listed company, based at Ewloe, said the repurchase programme was “in line with its capital allocation policy”.

The announcement was made as it posted an increase of turnover of around 12% to £316.4m with operating profits up 13% to £91.1m.

The company has 23.4m average monthly unique users and has invested £23m in the development of its platform technology over the last year.

Peter Plumb, Moneysupermarket.com chief executive, said: “Our technology investment programme is equipping us to save more families more money on a wider range of bills in the years ahead.

“Using data to make comparison more personalised, more informed, quicker and easier is differentiating us from other comparison sites.”

Plumb is stepping down in May this year after eight years, to be replaced in April by John Lewis retail boss Mark Lewis.

Moneysupermarket will pay a dividend of 9.85p.