Last checked at 15 Jan 2016 07:00
15 January 2016 - Moneysupermarket.com Group PLC Trading Update
The Group expects to deliver strong full year results with revenues expected to grow by 14% to £282 million, and Adjusted Operating Profit* to grow by c.13% to around £99 million, a little ahead of market expectations**. The Group is well placed to make further progress in 2016 through our diversified business. The results for the year will be announced on 1 March 2016.
Performance across the business was as follows:
Revenues for the three months to 31 December 2015 | Revenues for the twelve months to 31 December 2015 | |||
£M | Growth y-o-y (%) | £M | Growth y-o-y (%) | |
MoneySuperMarket.com - Insurance - Money - Home Services | 56.4 28.9 17.4 10.2 | 5 (10) 28 25 | 250.1 140.2 72.4 37.5 | 14 2 23 68 |
MoneySavingExpert.com | 7.6 | 38 | 30.7 | 34 |
TravelSuperMarket.com | 3.6 | (11) | 24.5 | 8 |
Intragroup revenues | (5.9) | (23.6) | ||
Group revenues | 61.7 | 5 | 281.7 | 14 |
- Insurance contracted slightly more than expected in the Quarter. At a time when we were finishing the migration to our new technology platform, we experienced stronger competitor marketing activity than anticipated and chose to maintain our margins. Initiatives are underway to bring momentum back to our Insurance business through the course of 2016.
- Money continued to deliver strong growth driven primarily by credit cards and current accounts.
- Home Services benefitted from the success of the latest MoneySuperMarket.com collective energy switch which attracted record numbers of customers.
- TravelSuperMarket.com performed as expected given its transition to new technology.
Peter Plumb, CEO of Moneysupermarket Group, commented:
"2015 has been another strong year for the Group with all brands delivering healthy growth. I am particularly pleased that we have helped many more people switch their energy supplier, credit card and current account than ever before.
"In December we successfully rolled out our new technology platform to car and home insurance and to TravelSuperMarket.com achieving a major milestone in our three year technology investment programme, and paving the way for benefits for our customers in 2016."
For further information, contact:
Matthew Price, Chief Financial Officer
Tel: 0207 379 5151
William Clutterbuck, Maitland
Tel: 0207 379 5151
Notes:
* Adjusted operating profit - Operating profit adjusted for the amortisation of acquisition-related intangible assets and the contingent payable in relation to the acquisition of MoneySaving Expert.com and any other exceptional items.
** Market expectations from the analyst consensus on our investor website - Average Adjusted Operating Profit £98.3m.
This 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.