Moneysupermarket breaks all time highs

Tuesday, 23rd April 2019 07:21 - by Rajan Dhall

Price comparison site Moneysupermarket.com has just taken out all time highs after a great RNS this morning. The company share price has been in consolidation for some time now looking for a clear catalyst to take out the 381p level. Here are some of the highlights from the report: 

• Total revenue rose to £104.9 million, compared to £88.3 million in the same period prior year
• Co. announced return 40 million pounds ($52.2 million) to its investors via a special dividend
• Home Services revenue grew 70% to £19.6m, Money 9% to £25.3m and Insurance 3% to £48.3m.

After breaking out of the consolidation range now we need to wait and see what is in store for the price comparison website. The 400p psychological level has been touted by some analysts as a potential resistance level but there is a potential for a move higher. CEO Mark Lewis said, "The reinvent strategy continues with a strong first quarter of trading, notably helping a record number of customers beat the rising energy price cap,". 

The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.