Moneysupermarket.com profit breaks £100m
COMPARISON site Moneysupermarket.com saw its adjusted operating profit break the £100m barrier in the 12 months to December.
The business, which includes MoneySavingExpert.com, said its money and home services drove revenue up 14% to £281.7m. Adjusted earnings per share rose 18% to 14.5p, while net cash rose 27% to £16.7m.
However, in its forward outlook the company warned insurance revenues – which contribute significantly to its performance – were down 4% in the first two months of the year. Despite this, it has seen 12% growth to the end of February.
Peter Plumb, Moneysupermarket.com Chief Executive Officer, said: “People are clearly getting more comfortable switching products beyond motor insurance, with the group helping over 500,000 households switch their energy and 1,600,000 people get a better deal on their finances.”
Moneysupermarket.com launched in 1993, before floating on the stock exchange in 2007. It acquired Martin Lewis’ advice site MoneySavingExpert.com in 2012.
Last month, figures from the Advertising Standards Agency showed Moneysupermarket.com’s “epic strut” advert – in which a man in a suit jacket, demin hotpants and stilettos struts down the street to the Pussycat Doll’s ‘Don’t Cha’ – was the most complained about advert of 2015. None of the 1,513 complaints were upheld.
