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.
