Home » News » FTSE 250 » Moneysupermarket.com Group PLC Strong trading performance supported by increased energy switching
Moneysupermarket.com plc

Moneysupermarket.com Group PLC Strong trading performance supported by increased energy switching

Moneysupermarket.com Group PLC (LON:MONY) reports trading results for the quarter ending 31 March 2019

Q1 2019

£m

Q1 2018

£m

Growth

%

Insurance

48.3

47.1

3

Money

25.3

23.1

9

Home Services

19.6

11.5

70

Other revenue

11.7

6.5

80

Total revenue

104.9

88.3

19*

* Revenue growth 12% excluding Decision Technologies

§ Motor insurance benefitted from improved conversion, partially offset by subdued trading in life insurance as competitors spent more on their customer incentives

§ Positive momentum in Money continued albeit lapping a weak quarter in 2018

§ The combination of attractive offers and the announcement of the price cap increase meant energy switching was exceptionally strong in the quarter

§ Other revenue includes £6.2m attributable to Decision Technologies

Mark Lewis, CEO of Moneysupermarket.com Group, said:

“The reinvent strategy continues with a strong first quarter of trading, notably helping a record number of customers beat the rising energy price cap. MoneySuperMarket innovation continues, we have new branding and advertising to remind everyone how we can help them with their finances and ‘get money calm’ and new products like Credit Monitor are on the site.”

Outlook

Performance of Home Services was exceptional in the first quarter and we expect this to moderate through the year. Our outlook for the year remains unchanged. The Board remains confident of meeting current market expectations.

 

Follow this article (for updates)
X

Follow this article (for updates)

E-mail : *
* Your personal data will be used to support your experience throughout this website and for other purposes described in our Privacy Policy. I hereby agree and consent to the privacy policy.