(Alliance News) - Price comparison website Moneysupermarket.com Group PLC said it was "pleased" with the performance of its Money and Travel businesses in the first quarter - as the firm's total revenue increased on the year before.
Shares in FTSE 250-listed Moneysupermarket were 3.8% higher in London on Tuesday morning at 179.51 pence each, but have slumped 17% so far in 2022.
In the three months to March 31, total revenue rose 8% to GBP92.3 million from GBP85.5 million, with its Money business seeing 37% growth to GBP24.8 million and Travel jumping sharply to GBP3.2 million from GBP400,000.
The firm's largest business - Insurance - saw a flat revenue performance at GBP41.1 million, but Home Services revenue slumped 65% to GBP9.1 million.
Chief Executive Peter Duffy said: "With cost-of-living increases adding pressure to consumer budgets, our distinctive brands remain well positioned to help households save money in a broad range of areas."
Looking ahead, Moneysupermarket said it expects its full-year earnings before interest, taxes, depreciation, and amortization to increase to around 2020 levels. For 2020, adjusted Ebitda was GBP107.8 million, which was down from GBP141.5 million in 2019, a pre-pandemic year.
Adjusted Ebitda in 2021 was GBP100.5 million.
By Paul McGowan; paulmcgowan@alliancenews.com
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Moneysupermarket.Com (MONY)