Moneysupermarket.com Q3 revenue up 14%

published 9 November 2011

Price comparison website Moneysupermarket.com revealed a 14% hike in third quarter revenue as robust demand for insurance and home services outweighed a weaker performance in travel.

The group's financial performance in the third quarter was in line with the board's expectations and trading in the first weeks of the fourth quarter has been good, it said.

Internet revenues were up 14% for the third quarter and earnings before interest, tax, depreciation and amortisation was 25% ahead of the same period last year. Visitors to the Moneysupermarket.com website rose 3% ahead of the same period last year.

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The number of visitors logging on across the Money, Insurance and Home Services channels increased while Travel reduced marginally as consumers reined in spending.

At 31 October 2011 the group had net cash of £18.7m, reflecting the payment since the half year of the interim dividend of £7.7m together with the special dividend of £20m.

"Overall the board's expectations for the year remain unchanged," it said.

Chief executive Peter Plumb noted, "The recent acquisition of Local Daily Deals will further widen our offering, helping customers to save more money through local and national deals with retailers."