Moneysupermarket Q1 revenue up 19% to £105m

Shares of Chester-based price comparison website rose almost 5% on Thursday after it said first-quarter revenue rose 19% to £104.9 million and that it remains confident of meeting current market expectations for the full year. 

The firm also gave an update on a special dividend.

“Following our announcement on 14 February of a proposed £40m enhanced distribution and the related shareholder consultation, the board confirms today that this will be made by way of special dividend,” said Moneysupermarket.

“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.” Group CEO Mark Lewis 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.”

In its outlook, Moneysupermarket said: “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.”