Paul Doughty, the finance director of price comparison website moneysupermarket.com, has raised nearly £1m from a share sale.
Doughty sold 1.08m shares at 90.1p a share, which still leaves him with just over 1.8m shares, or 0.36% of the company. He raised £974,000 from the sale. Doughty has been on the board since April 2007.
Moneysupermarket.com saw improving trends in 2010 in all four of its main divisions, despite tough competition from rivals.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Revenue in 2010 grew 9% to £148.9m from £136.9m in 2009, with growth accelerating in the second half of the year. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 14% to £41.0m from £36.0m in 2009, while statutory profit before tax more than tripled to £11.0m from £3.2m the year before.
The Insurance price comparison business saw year-on-year revenue growth of 13% in the second half of the year, up from 10% in the first half, while the financial products (loans, credit cards etc.) business's growth rate quickened to 20% in the second half from 11% in the first half.
Second half revenue growth from home services (utilities) enquiries improved to 14% from 10% in the first half.
The travel (holidays and hotels) business remained ex-growth in 2010, but the 21% year-on-year decline in revenue seen in the first half had moderated to a 5% decline in the second, and the business has returned to growth in 2011, albeit against weak comparatives.
Top Director Buys
InternetQ (INTQ) Director name: Mr Michael JolliffeAmount purchased: 15,625 @ 120.00p Value: £18,750
InternetQ (INTQ) Director name: Mr Stuart CruickshankAmount purchased: 10,416 @ 120.00p Value: £12,499
InternetQ (INTQ) Director name: Mr Iain B JohnstonAmount purchased: 10,416 @ 120.00p Value: £12,499
Top Director Sells
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
