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STOCKS NEWS EUROPE-Moneysupermarket up on 2012 earnings outlook

Fri, 11th Jan 2013 10:53

Shares in price comparison website MoneySupermarket.com Group riseas much as 12 percent after the company says it expects to report double-digitgrowth in revenue and core earnings for its latest financial year. The company says 2012 adjusted revenue will increase by 15 percent to 204.5million pounds ($329 million), with core earnings rising 26 percent to 66million pounds. Moneysupermarket says fourth quarter revenue was up 18 percent with highdemand for lower priced insurance products offsetting a dip in demand forsavings products in the financial sector. Canacccord Genuity analyst Simon Daves says the company is"recession-resilient" and is likely to benefit from an increase in accountswitchingactivity in a tough consumer environment. Davies has raised his price target on the stock to 200 pence per share from147 pence. For more, click on To see MoneySupermarket's statement, please click on [ID::nRS5GNQrP] Reuters messaging rm://karen.rebelo.thomsonreuters.com@reuters.net($1 = 0.6209 British pounds)

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