Moneysupermarket keeps divi despite revenue fall

Mark Lewis

Chester-based price comparison website Moneysupermarket Group said on Tuesday it maintained its dividend despite its revenue falling 8% to £183.2 million in the six months ended June 30, 2020.

“Interim dividend maintained at 3.1p, reflecting our strong cashflow characteristics and confidence in the business model,” said Moneysupermarket.

Profit before taxation fell 15% to £51.4 million.

The company warned in its outlook: “While the uncertainty now inherent in some of our markets makes it difficult to provide financial guidance, we believe we are likely to face greater earnings pressure in H2 than in H1, given our good Q1 performance and the phasing of costs through the year.”

Moneysupermarket Group CEO Mark Lewis said: “I’m pleased the group has been able to help our users save over £1bn already this year when so many households are facing unprecedented financial strain.

“COVID-19 and the lockdown measures have significantly impacted our core markets, but our brands MoneySavingExpert and MoneySuperMarket have risen to the challenge providing useful advice and savings tips to millions.

“Our business model has proved resilient, generating good cashflow throughout the crisis and giving us confidence for the future.”