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Annual Results

Monysupermarket.com lifts FY after-tax profit, divi

28 February 2017 07:51

Monysupermarket.com has lifted its FY after-tax profit to £73.5m, from £63.4m, but warns group revenues in the current year are behind those in 2016.

The outfit bumped up its dividend for the period to 9.85p a share, from 9.15p. Group revenue was £316.4m, from £281.7m.

CEO Peter Plumb said Moneysupermarket.com saved nearly 7m families £1.8bn on their household bills in 2016, which helped us grow revenues by 12%.

"This adds up to another great year for the Moneysupermarket Group. We increased the dividend 8% and are announcing a £40m share buyback," he said.

"Our technology investment programme is equipping us to save more families more money on a wider range of bills in the years ahead. Using data to make comparison more personalised, more informed, quicker and easier is differentiating us from other comparison sites."

However, looking ahead, the company said insurance revenues and the core Money business (credit cards and loans) delivered strong growth in the first two months of the year.

Low interest rates continued to weaken savings and current account switching and Energy is trading lower, as we have not yet run a collective switch, said Moneysupermarket.com in a statement.

"Consequently, Group revenues are currently behind last year. The Board is confident of delivering its expectations for the year."

Story provided by StockMarketWire.com

Related Company: MONY

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