LONDON (Alliance News) - Price comparison site GoCompare.com Group PLC on Thursday reported a "strong" annual financial performance, though customer interactions and savings have fallen.
Pretax profit for 2018 rose to GBP33.8 million from GBP30.7 million, as revenue inched up 2.3% to GBP152.6 million.
The company's price comparison marketing margin was 46.4% at the end of 2018, up from 40.5% a year before.
However, customer savings fell 14% to GBP1.03 billion, and customer interactions were down 16% on the year prior to 27.1 million. Average revenue per interaction did rise 9.9% to GBP5.13.
GoCompare will be paying a final dividend of 0.8 pence per share, the same as its interim payment, taking the year's total to 1.6p. In 2017, it returned 1.4p.
"The group pursued a fast-paced and ambitious strategic plan in 2018, making investments and product developments that set the group up for long-term success," said Chair Peter Wood.
"This was complemented by a continuation of our disciplined approach to financial performance and a focus on cash generation, resulting in good growth in adjusted operating profit. Throughout 2019 and beyond, we will continue to focus on delivering value to our shareholders by developing new and more efficient ways to help people save time and money."
Looking ahead, GoCompare expects another year of "disciplined" performance, with modest revenue growth and a stable marketing margin. Results will be weighted to the second half, the company added.
Shares were down 5.9% on Thursday morning at 65.50 pence each.
