Financial crisis hits Moneysupermarket.com

Price comparison website moneysupermarket.com saw first half profits slump from the same periods the previous year as it felt the impact of the financial crisis that erupted between the two periods.The firm posted a pre-tax profit of £1.9m in the six months to June 30 compared to £14.4m in the same period the previous year as revenues slid to £68.5m from £99.4m.'Revenues were impacted by the credit crunch which reduced both the supply of credit and consumer discretionary expenditure relative to the same period last year,' it said.However, trading has stabilised as the firm has sought to adapt to the new environment, such as by launching a 'Savings on household bills campaign', moneysupermarket.com said.The firm maintained its interim dividend at 1.3p a share and announced that it will pay a special dividend of 1.3p a share to underline its confidence in its cash-generating abilities.