Moneysupermarket.com posts 30% revenue rise

22-04-2008

Moneysupermarket.com posts 30% revenue rise
Online price comparison service Moneysupermarket.com has reported a 30 per cent increase in revenues compared to last year.

From the beginning of the year to yesterday (January 1st to April 21st), the group said performance is in line with expectations.

In the company's money sector, revenues were ten per cent ahead of last year on increased credit card and savings business, while mortgages and loans trading was "challenging".

Travel and insurance recorded a better performance, with revenues up 50 per cent.

Meanwhile, customers using the site's home services sections – primarily to compare utilities providers - increased revenues by 100 per cent.

The group said that with mortgage approvals reported to be 40 per cent down, the business's performance shows the benefit of a difficult market to price comparison channels.

Chief executive Simon Nixon said: "We have made a solid start to the year with over 30 per cent revenue growth year on year. This highlights the resilience of our business model, the strength of our market position and the benefits of our diversification into a number or verticals."

Moneysupermarket.com also said costs have increased over the last quarter, as a result of an investment in technology but the company does not expect a further step up in its cost base over the remainder of the year.

Shares in moneysupermarket.com were up 5.7 per cent in morning trading to 111.25p on the London Stock Exchange.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
Health / Beauty
Hotel / Catering / Restaurants
HR / Recruitment
Insurance / Pensions
International / Overseas
IT / Internet
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure