Last checked at 12 Nov 2014 07:00
12th November 2014
Moneysupermarket.com Group PLC Interim Management Statement
Moneysupermarket.com Group PLC ("MoneySuperMarket.com" or the "Company"), the UK's leading price comparison website, announces its Interim Management Statement for the period from 1 July 2014 to date, incorporating trading performance to 30 September 2014.
Revenue for the period and percentage growth on last year:
Revenues for the three months to 30 September 2014 | Revenues for the nine months to 30 September 2014 | ||||
£M | Growth % | £M | Growth % | ||
MoneySuperMarket.com - Insurance - Money - Home Services | 58.9 38.0 15.8 5.1 | 18 15 24 20 | 165.6 106.0 45.4 14.2 | 10 8 12 31 | |
MoneySavingExpert.com | 6.0 | 21 | 17.3 | 25 | |
TravelSupermarket.com | 6.2 | 23 | 18.6 | 31 | |
Other | 0.1 | 8 | 0.2 | (36) | |
Intragroup revenues | (4.4) | (12.5) | |||
Group revenues | 66.8 | 18 | 189.2 | 12 | |
Revenues from insurance switching grew across all our lines: motor, home, travel and life. A flattening out of motor insurance premiums is encouraging motorists to compare prices and coverage. In Money, revenues from credit products, especially credit cards and loans, continue to increase. Home Services benefitted from the success of MoneySavingExpert's Cheap Energy Club and the continued consumer focus on energy prices.
Peter Plumb, CEO of MoneySuperMarket.com, commented:
"This has been another good quarter with trading growth of +18%. In parallel with saving more people more money - we've helped 3.7 million customers so far this year - the technology team has launched our pioneering new motor insurance site to a number of customers. We think this is easily the best way for customers to find the policy that best suits them - you can compare features, benefits and exclusions of policies as well as price. We'll be rolling out the new technology to more customers across our business channels in the months ahead."
Financial Position:
The Group's financial position remains strong. At 30 September 2014, the Group had net debt of £18.1 million having paid the interim dividend during September.
Outlook:
Through October, Group trading continued the positive momentum and solid margins seen in Q3. However, the group does not expect to repeat the exceptional 2013 fourth quarter demand for energy switching which added £7M of revenue growth.
The Board remains confident of meeting its full year expectations.
For further information, contact:
Matthew Price, Chief Financial Officer, MoneySuperMarket.com
Tel: 0207 379 5151
William Clutterbuck, Maitland
Tel: 0207 379 5151
This interim management statement may include statements that are forward looking in nature. Forward looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Except as required by the Listing Rules and applicable law, the Group undertakes no obligation to update, revise or change any forward looking statements to reflect events or developments occurring after the date such statements are published.
The information in this release is based on management information.