Mony reports improved revenue and earnings, shares slide

(Sharecast News) - Mony Group reported first-half revenue of £227.1m on Tuesday, up 6% on a like-for-like basis and 1% on a reported basis, while adjusted EBITDA rose 3% like-for-like to £75.5m. Profit after tax increased 1% to £46.1m, adjusted basic earnings per share rose 5% to 9.7p and the interim dividend was lifted 1% to 3.36p.

Growth was led by Home Services, where revenue increased 30% to £28.2m, while Money rose 9% to £57.6m and Insurance grew 4% to £122.1m, partly offset by a 13% decline in Cashback revenue.

The FTSE 250 group said it remained confident of delivering full-year adjusted EBITDA within current consensus, supported by cost discipline, growth in SuperSaveClub membership to more than 2.5m and the launch of new investment, insurance and business banking products.

At 0918 BST, shares in Mony Group were down 3.91% at 196.21p.

Reporting by Josh White for Sharecast.com.

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