Moneysupermarket Q1 revenue down 20% to £85m

Peter Duffy

Shares of Chester-based price comparison website Moneysupermarket Group fell about 4% on Tuesday after it said revenue for its first quarter fell 20% to £85.5 million compared to £107.3 million for the same period of 2020.

Moneysupermarket said the first quarter performance was in line with expectations “given ongoing market disruption.”

In its outlook, the firm said: “The board therefore expects full-year performance to be in line with market expectations.”

Moneysupermarket Group CEO Peter Duffy said: “We continue to help millions of households save money on their bills through lockdown and the energy price cap rise.

“We are moving ahead with our updated strategy, enhancing how we manage our data and starting to attract customers more efficiently.

“Several channels remain impacted by Covid-19, but we are well positioned to weather this period and return shortly to profitable growth.” 

 

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.