Chester-based MONY Group plc, which runs the price comparison and consumer tip websites MoneySuperMarket and MoneySavingGroup, said sales for the last six months rose 5%, helped by customers using their services to switch home and car insurance as premium rates rose. 

The company, which changed its name from Moneysupermarket.com Group in May, said revenue rose 5% to £223.5 million, while profit after tax rose 8% to £44.1 million. 

Peter Duffy, CEO of MONY Group, said: “Ours is a business that only makes money if customers save money and in the first half of 2024, we saved customers £1.7 billion. By offering easier ways to save through SuperSaveClub, the MoneySavingExpert App and Quidco, customers will increasingly come to us direct and more frequently too. The work we have done on our tech and data platform makes this possible, and I am excited about the growth opportunity ahead.”

The company said insurance revenue grew 14% over the period, led by car and home cover. Rising premium rates have prompted more customers to seek out better deals with comparison websites. However, MONY said car premium inflation began to slow through the half, with home premium inflation stabilising, which should lead to more normal levels of premium inflation.

“We expect growth in insurance to return to more normalised levels as we begin to lap the exceptional growth experienced in 2023 and we do not expect any material revenue from energy switching this year,” MONY said. 

The company said it expects to report annual results in line with market expectations of adjusted EBITDA between £135.8 million and £143.7 million.