Last checked at 30 Apr 2015 07:00
30 April 2015 - Moneysupermarket.com Group PLC Trading Update
The Group is releasing this trading update to coincide with its AGM which is being held later today. The financial and operational information in this statement relates to the period 1 January to 31 March 2015 unless otherwise stated.
The Group had a good start to the year, with Group revenues up 25%, reflecting, in part, the relatively weak comparative period. Performance across the business was as follows:
Revenues for the three months to 31 March 2015 | ||
£M | Growth y-o-y (%) | |
MoneySuperMarket.com - Insurance - Money - Home Services | 67.9 36.8 18.8 12.3 | 28 12 24 141 |
MoneySavingExpert.com | 7.8 | 34 |
TravelSupermarket.com | 7.0 | 13 |
Intragroup revenues | (6.1) | |
Group revenues | 76.6 | 25 |
The key drivers in the first quarter were as follows:
- Insurance benefitted from the improvements we have made to the customer journey.
- Money saw growth driven primarily by personal loans and credit cards. Current accounts also performed well due to attractive interest rates on offer by some providers.
- Home Services benefitted from the success of the collective switch offer and sustained consumer focus on energy prices. We expect growth to moderate materially over the balance of the year.
Peter Plumb, Peter Plumb, CEO of Moneysupermarket Group, commented:
"The first quarter saw strong growth across all three brands, with over 1.5 million families saving money on their household bills through the Moneysupermarket Group. As expected, second quarter growth is slowing from the 25% performance of the first quarter. Our technology investment programme is on track to make it easier for people to save money on whichever device they choose to access our site."
Outlook:
The weak 2014 comparative period ended in March, so the Group does not expect the exceptional growth of the first quarter to continue through the year and revenues slowed in April as expected. That said, the Group continues to make good progress and 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
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.