Moneysupermarket H1 revenue down 11% to £162m

Peter Duffy

Chester-based price comparison website Moneysupermarket Group said on Thursday its revenue fell 11% to £162.3 million in the six months ended June 30, 2021, while profit before tax slumped 28% to £37 million.

Interim dividend is maintained at 3.1p “reflecting robust cash generation and confidence in the business.”

Moneysupermarket Group CEO Peter Duffy said: “Strategic improvements to the business are progressing well, delivering good margin gains.

“Our markets are still on the road to recovery ahead of what should be more normal trading conditions in 2022.

“Cash generation remains strong, with the dividend reflecting our confidence in the business and opportunities ahead.”

In its outlook Moneysupermarket said: “Our markets are recovering at different rates.

“In insurance our channels, excluding travel, have returned to more normal trading conditions.

“We anticipate continuing gradual improvement in money this year.

“The expected increase in the energy price cap in October should improve customer savings levels, assuming wholesale energy prices decline.

“On this basis the board is confident of delivering market expectations for the year.”

About the Author

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.