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30 Oct 2015 07:00
30th October 2015 - Moneysupermarket.com Group PLC Trading Update
The financial and operational information in this statement relates to the period 1 July to 30 September 2015 unless otherwise stated. The Group delivered a strong quarter performance, with Group revenues up 14%. Performance across the business was as follows:
Revenues for the three months to 30 September 2015 | Revenues for the nine months to 30 September 2015 | |||
£M | Growth y-o-y (%) | £M | Growth y-o-y (%) | |
MoneySuperMarket.com - Insurance - Money - Home Services | 67.0 37.8 19.5 9.7 | 14 0 23 90 | 193.7 111.4 55.0 27.3 | 17 5 21 92 |
MoneySavingExpert.com | 8.5 | 41 | 23.1 | 33 |
TravelSupermarket.com | 7.2 | 16 | 20.9 | 12 |
Intragroup revenues/other | (6.6) | (17.6) | ||
Group revenues | 76.2 | 14 | 220.0 | 16 |
- The group is benefiting from its multi brand, multi-channel strategy, delivering good growth from both Money and Energy.
- As reported at the Interims, the third quarter faced strong comparatives. This and stronger competitor activity meant that insurance was flat in the quarter.
- Money saw further growth driven primarily by current accounts and credit cards. Providers have continued to offer attractive interest rates on their current accounts.
- Home Services benefitted from the success of the latest MoneySavingExpert collective switch which attracted record numbers of customers. Last year the switch took place in Q4.
Peter Plumb, CEO of Moneysupermarket Group, commented:
"People are now seeing they can switch online and save money on far more than just car insurance. Our multi-channel offering across three brands has helped nearly five million families save over £200 on average on their bills in 2015, from energy to credit cards and broadband.
"I am pleased Martin Lewis is stepping up to be Executive Chairman of MoneySavingExpert to continue campaigning for consumers. We continue to grow our investment in the new technology platform to accelerate its roll out across both mobile and desktop."
Outlook
The Board is confident of meeting its expectations for the full year despite an anticipated slowdown in revenues in the fourth quarter.
For further information, contact:
Matthew Price, Chief Financial Officer
Tel: 0207 379 5151
William Clutterbuck, Maitland
Tel: 0207 379 5151
This Trading 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.
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