Moneysupermarket expects 15 per cent rise in adjusted revenue for the year

Adjusted revenue at Moneysupermarket.com is expected to increase by approximately 15 per cent to 204.5m pounds for the full year 2012, according to a trading statement published by the FTSE 250 company on Friday morning.

The post-close statement further outlined expectations for full year adjusted earnings before interest tax depreciation and amortisation (EBITDA) to be around £66m, representing an increase of approximately 26%.

The acquisition of MoneySavingsExpert.com, which was completed on September 21st last year, contributed approximately £1.8m of revenues from providers other than Moneysupermarket.com and £2.8m of adjusted EBITDA to the group in 2012.

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Trading in the fourth quarter of the year was described as "satisfactory", with group revenues approximately 18% ahead of the same period last year.

Excluding MoneySavingsExpert.com, group revenues were around 14% ahead of the same period last year with lower demand for comparison of savings products in the Money vertical offset by improved trading in Insurance, Home Services and Travel.

The group explained that revenue in savings had been hit by lower competition among banks for retail deposits, many of which sought low cost funding from the Bank of England's Funding for Lending scheme rather than from retail deposits.

As of December 31st, the group had cash balances of £17.7m and no debt.

MF