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LONDON (Alliance News) - Price comparison service Moneysupermarket Group PLC on Tuesday posted higher pretax profit and revenue as good money and home services performances offset a weaker performance in insurance, a trend which has continued into 2016.
The FTSE 250-listed group said its pretax profit for the year to the end of December was GBP63.4 million, up 20% from the GBP52.8 million in 2014, as revenue rose 14% to GBP281.7 million from GBP248.1 million.
The group said its money and home services comparison channels both performed very well over the year, but the insurance vertical was weaker due to increased competition and tough comparatives. That trend has continued into 2016, it said, with money and home services driving 12% revenue growth in the first two months of the year, but insurance still weak and travel now also deteriorating.
Still, Moneysupermarket said it remains confident on meeting its expectations for 2016.
Moneysupermarket will pay a final dividend of 6.6 pence per share, taking its total dividend up to 9.15p from 8.0p in 2014.
"As we roll out our new technology platform and create more expert help, tools and guides, we all look forward to helping more households save more money on more things in 2016," said Chief Executive Peter Plumb.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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