Moneysupermarket.com Group PLC Trading Statement (9075N)
01 November 2016 - 6:00PM
UK Regulatory
TIDMMONY
RNS Number : 9075N
Moneysupermarket.com Group PLC
01 November 2016
1 November 2016 - Moneysupermarket.com Group PLC Trading
Update
Moneysupermarket.com Group PLC, the UK's leading price
comparison websites, delivered a strong quarterly performance, with
revenues up 12%. The group is benefitting from its diversified
portfolio aimed at helping every household make the most of their
money.
Performance across the business was as follows:
Revenues for the Revenues for the
three months to nine months to
30 September 2016 30 September 2016
----------------------- --------------------- ---------------------
GBPM Growth GBPM Growth
y-o-y y-o-y
(%) (%)
----------------------- --------- ---------- ---------- ---------
MoneySuperMarket.com 76.0 13 218.2 13
- Insurance 42.5 12 117.8 6
- Money 19.6 0 61.3 11
- Home Services 13.9 44 39.1 43
----------------------- --------- ---------- ---------- ---------
MoneySavingExpert.com 9.1 8 28.5 23
----------------------- --------- ---------- ---------- ---------
TravelSupermarket.com 6.9 (5) 17.9 (14)
----------------------- --------- ---------- ---------- ---------
Intragroup revenues (7.1) (22.1)
----------------------- --------- ---------- ---------- ---------
Group revenues 84.9 12 242.5 10
----------------------- --------- ---------- ---------- ---------
The drivers of trading in the third quarter were:
- Strong growth in insurance and increasing momentum, helped by
our investment in technology and the benefit of enhanced data
interaction with providers.
- Our core market of Credit Cards and Loans contributed high
single digit growth; however low interest rates significantly
depressed Savings switching.
- Energy continued its impressive growth trajectory with
MoneySavingExpert running its biggest ever collective switch, which
ended on the 3(rd) October.
- TravelSupermarket turnaround is on track in preparation for the key January trading period.
Peter Plumb, CEO of Moneysupermarket.com Group, commented:
"The Group is on track for a record year, insurance is back to
strong growth and MoneySavingExpert's latest collective energy
switch was the biggest ever; helping over 180,000 households cut
their annual energy bills.
"Our technology platform is allowing innovative services to be
pioneered, including MoneySavingExpert's Credit Club and
MoneySuperMarket's mobile App service.
"Moneysupermarket is well placed to lead the market in helping
many more households save more money on their household bills in
the years ahead."
Outlook:
The business traded well in October and insurance growth
continues to accelerate. Lower interest rates subdued both savings
and current account switching by around GBP0.8 million compared to
last year. The Board remains confident of meeting full year
expectations.
For further information, contact:
Matthew Price, Chief Financial Officer
Tel: 0207 379 5151
William Clutterbuck, Maitland
Tel: 0207 379 5151
Notes:
Market expectations from the analyst consensus on our investor
website - Average Adjusted Operating Profit GBP105.9m. Adjusted
operating profit - Operating profit adjusted for the amortisation
of acquisition-related intangible assets and the contingent payable
in relation to the acquisition of MoneySavingExpert.com and any
other exceptional items.
This statement may include statements that are forward looking
in nature. Forward looking statements involve known and unknown
risks, assumptions, uncertainties and other factors which may cause
the actual results, performance or achievements of the Group to be
materially different from any future results, performance or
achievements expressed or implied by such forward looking
statements. Except as required by the Listing Rules and applicable
law, the Group undertakes no obligation to update, revise or change
any forward looking statements to reflect events or developments
occurring after the date such statements are published. The
information in this release is based on management information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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