Moneysupermarket.com Group PLC Trading Statement (5576W)
18 April 2019 - 4:00PM
UK Regulatory
TIDMMONY
RNS Number : 5576W
Moneysupermarket.com Group PLC
18 April 2019
18 April 2019
Q1 2019 Update: Strong trading performance supported by
increased energy switching
Moneysupermarket.com Group PLC reports trading results for the
quarter ending 31 March 2019
Q1 2019 Q1 2018 Growth
GBPm GBPm %
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 GBP6.2m 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.
Enhanced distribution
Following our announcement on 14 February of a proposed GBP40m
enhanced distribution and the related shareholder consultation, the
Board confirms today that this will be made by way of special
dividend. The special dividend of 7.46 pence per share will be paid
on 21 May 2019 to shareholders on the register on 3 May 2019.
Shares will trade ex-dividend from 2 May 2019.
For further information, contact
Scilla Grimble, Chief Financial Officer - Scilla.Grimble@moneysupermarket.com / 0207 379 5151
Jo Britten, Investor Relations Director - Jo.Britten@moneysupermarket.com / 07896 469 380
William Clutterbuck, Maitland AMO - wclutterbuck@maitland.co.uk / 0207 379 5151
Notes
Adjusted EBITDA is operating profit adjusted for depreciation,
amortisation and other non-underlying costs including strategy
related costs.
Market expectations for the 12 months to 31 December 2019 (from
the analyst consensus on our investor website) are in a range of
GBP135.0m to GBP145.0m, with an average of GBP140.7m. Consensus
includes 3 estimates adjusted for IFRS16, the remaining 8 estimates
are unadjusted. As disclosed in the preliminary results the impact
from the transition to IFRS 16 on 2019 is estimated at GBP3.0m
reduction in rental costs, GBP2.6m increase to depreciation costs
and GBP1.0m increase in finance costs.
Cautionary note regarding forward looking statements
This announcement includes 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 Company 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, Disclosure and
Transparency Rules and applicable law, the company undertakes no
obligation to update, revise or change any forward-looking
statements to reflect events or developments occurring on or after
the date such statements are published.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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