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LONDON (Alliance News) - Moneysupermarket.com Group PLC on Tuesday reported a big rise in pretax profit for 2014 as swelling revenue significant outpaced an increase in costs, prompting the company to hike its dividend.
The price comparison site operator said its pretax profit for the year to the end of December was GBP66 million, up from GBP43.1 million a year earlier.
Revenue increased to GBP248.1 million from GBP225.6 million a year earlier, outpacing only a slight uptick in its cost of sales to GBP52.4 million from GBP50.2 million.
Insurance revenue increased 8% in the year, while Money revenue rose 13%. Revenue from its TravelSupermarket.com business rose 28%, boosted by technology investments, while MoneySavingExpert.com revenue increased 17%.
The company lifted its final dividend for the year to 5.69 pence per share from 5.12 pence last year, bringing its total dividend for the year up to 8 pence per share from 7.28 pence a year earlier.
"Our three well-trusted brands helped more than 40 million users make the most of their money in 2014. We invested over £16 million in our websites and systems and will do the same in 2015 to ensure we lead the market as the easiest and best way for families to save money on their household bills," said Chief Executive Officer Peter Plumb.
Moneysupermarket added trading in the first two months of 2015 has been strong, though it warned it will be up against tougher comparatives in the second quarter.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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