Posted: Thu 20th Jul 2017

Half of year revenue up for Deeside based Moneysupermarket but shares wobble on full year profit forecast

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Thursday, Jul 20th, 2017

Ewloe headquartered Moneysupermarket.com, the online comparison business, has reported a rise in profit of 5 per cent versus the same period last year.

Pre-tax profit increased to £49.5m, from £47.1m during the six months to June 30 against the same period in 2016.

According to the group’s interim results for the six months to 30 June 2017, revenue grew to £165.3m from £157.6m the year before.

Shares in the company have taken a 10% dip early on, following news that the company expects the full-year outlook for Adjusted Operating Profit “to be at the lower end of the consensus range.”

The company did say group trading in the first few weeks of July was in line with the second quarter.

Moneysupermarket.com Group PLC interim results for the six months to 30 June 2017

 

Chief executive officer Mark Lewis said:

We’ve helped more people take control of their household bills than ever before, saving our customers £1.1bn in the first half of this year.

Insurance switching grew an encouraging 18%. However, the energy market continues to evolve and the lack of blockbuster energy deals from providers meant we didn’t collectively switch as many people as last year.

Our focus now is on using our tech investment to find new ways to help our customers, particularly on mobiles, and improving our everyday energy switching.

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