Last checked at 14 Jul 2016 07:00
14 July 2016 - Moneysupermarket.com Group PLC Trading Update
The Group expects solid half year results with revenues expected to grow by 10% to £158 million. As planned, the Group is making some additional marketing investment and so Adjusted Operating Profit* is expected to grow by 6% to around £54 million. The results for the half year will be announced on 3 August 2016.
Performance across the business was as follows:
Revenues for the three months to 30 June 2016 | Revenues for the six months to 30 June 2016 | |||
£M | Growth y-o-y (%) | £M | Growth y-o-y (%) | |
MoneySuperMarket.com - Insurance - Money - Home Services | 66.2 39.2 19.0 8.0 | 13 6 14 53 | 142.1 75.3 41.7 25.1 | 12 2 18 43 |
MoneySavingExpert.com | 8.1 | 20 | 19.3 | 32 |
TravelSuperMarket.com | 5.8 | (14) | 11.1 | (19) |
Intragroup revenues | (6.1) | (14.9) | ||
Group revenues | 74.0 | 10 | 157.6 | 10 |
The key drivers in the second quarter were as follows:
- Momentum returned to Insurance across all product groups.
- Money continued to deliver strong and broad-based growth led by balance transfer credit cards.
- Exclusive energy offers helped Home Services deliver a great result.
- In Q2 MoneySavingExpert and TravelSuperMarket performed in line with expectations.
Peter Plumb, CEO of Moneysupermarket Group, commented:
"Moneysupermarket made another strong start to the year, growing revenues by 10% and saving customers a record £890 million.
"As UK families prepare for life after the Brexit vote, with potentially rising energy prices, rising insurance prices and lower interest rates, our trusted brands and services will be there to make sure household bills are as low and easy to switch as possible.
"Moneysupermarket is a pure play digital business, with a strong balance sheet and a new technology platform built to deliver personalised market leading services no matter what device people use to manage their money in the turbulent years ahead."
Outlook:
The Board remains confident of meeting its full year expectations.
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 MoneySavingExpert.com and any other exceptional items.
Market expectations from the analyst consensus on our investor website - Average Adjusted Operating Profit £106.0m.
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.