Moneysupermarket H1 revenue up 5% to £174m

Shares of Chester-based price comparison website rose about 8% after it said its revenue rose 5% to £173.7 million in the six months to June 30, 2018, and it announced plans for a new mortgage comparison tool.

Operating profit for the six months rose 7% to £52 million.

Moneysupermarket Group CEO Mark Lewis said: “Our trading is on track and our Reinvent strategy to help people save more money across more household bills, is moving ahead.

“In particular, our expanding product engineering hub is making it easier for customers to switch.

“We all know finding a better mortgage is complicated.

“We said we would do something about this and today we announce Podium, a new mortgage fintech, to build a comparison tool to bring customers the digitisation of mortgages – an easier and better way to arrange the mortgage that suits them.”