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17 Oct 2017 07:00
17 October 2017 - Moneysupermarket.com Group PLC Trading Update
Moneysupermarket.com Group PLC, the UK's leading price comparison website, delivered a strong quarterly performance, with revenues up 6%. The Group continues to benefit from its diversified portfolio, built to help everyone make the most of their money.
Performance across the business was as follows:
| Revenues for the three months to 30 September 2017 | Revenues for the nine months to 30 September 2017 | ||
| £M | Growth y-o-y (%) | £M | Growth y-o-y (%) |
MoneySuperMarket.com - Insurance - Money - Home Services | 80.3 47.2 19.2 13.8 | 6% 11% (2%) (1%) | 227.6 135.8 61.1 30.7 | 4% 15% (0%) (21%) |
MoneySavingExpert.com | 10.8 | 18% | 30.8 | 8% |
TravelSupermarket.com | 6.8 | (1%) | 19.0 | 6% |
Intragroup revenues | (7.7) |
| (21.9) |
|
Group revenues | 90.2 | 6% | 255.5 | 5% |
The drivers of trading in the third quarter were:
- Continued strong performance from Insurance switching.
- Money switching was stable despite fewer attractive offers from providers.
- Home Services saw recovery overall and growth in core energy switching.
Mark Lewis, CEO of Moneysupermarket.com Group, said:
"We are on track for another record year because we are helping more people save more money across their household bills: from insurance and credit cards to holidays, broadband and energy.
"We're particularly encouraged by the continued growth of insurance, and momentum in energy switching, as families look to find better deals.
"Our message to customers is clear - don't kid yourself that the energy price cap will be the answer, if you haven't switched recently you can quickly and easily save £250 today, by switching to a competitive fixed rate!"
Outlook:
The Board remains confident of meeting full year expectations.
For further information, contact:
Matthew Price, Chief Financial Officer
Tel: 0207 379 5151
William Clutterbuck, Maitland
Tel: 0207 379 5151
Notes: Market expectations of Adjusted Operating Profit from the analyst consensus on our investor website are in a range of £111.3m to £114.8m, with an average of £112.7m.
Adjusted operating profit - Operating profit adjusted for the amortisation of acquisition-related intangible assets and the contingent payable in relation to the acquisition of MoneySavingExpert.com and any other exceptional items.
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.
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