Last checked at 19 Jan 2017 07:00
19 January 2017 - Moneysupermarket.com Group PLC Trading Update
The Group expects to deliver strong full year results with revenues expected to grow by 12% to £316 million, and Adjusted Operating Profit* by c.8% to about £108 million.
The results for the full year will be announced on 28 February 2017. Performance across the business was as follows:
Revenues for the three months to 31 December 2016 | Revenues for the twelve months to 31 December 2016 | |||
£M | Growth y-o-y (%) | £M | Growth y-o-y (%) | |
MoneySuperMarket.com - Insurance - Money - Home Services | 66.9 37.4 17.6 11.9 | 19 30 1 17 | 285.1 155.2 78.9 51.0 | 14 11 9 36 |
MoneySavingExpert.com | 8.3 | 9 | 36.8 | 20 |
TravelSupermarket.com | 4.4 | 21 | 22.3 | (9) |
Intragroup and other | (5.8) | (27.8) | ||
Group revenues | 73.8 | 20 | 316.4 | 12 |
- Strong growth continued in insurance.
- The core money business, credit cards and unsecured personal loans, delivered good growth. As previously indicated interest rate cuts have weakened both savings and current account switching.
- Home services grew robustly, despite not undertaking a collective switch during Q4.
- The TravelSupermarket.com turnaround is on plan.
Peter Plumb, CEO of Moneysupermarket Group, commented:
"20% growth in the final quarter of 2016 closes off another good year for Moneysupermarket Group.
"We helped nearly 7 million families save an estimated £1.8bn on their household bills last year. Our technology, data and brand investment programmes are positioning the Group to continue to lead the market and help more families save money across a growing range of products in the years ahead.''
- Mark Lewis will be appointed as Executive Director of the Company on 13 March and following a handover will become Chief Executive Officer on 10 April.
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, impairment of other intangible assets and the contingent payable in relation to the acquisition of MoneySavingExpert.com in the prior year. Adjusted Operating Profit is used as a profit measure as it is believed to better reflect the group's underlying profits and investment in technology.
- The figures included within the statement are unaudited.
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.