Shares of Chester-based MONY Group plc, which runs the price comparison and consumer tip websites MoneySuperMarket and MoneySavingGroup, fell about 8% after it published a third quarter trading update.

Revenue for the quarter fell 2% to £112.9 million.

“Growth in insurance and cashback was offset by headwinds in Travel and persistent soft market conditions in Home Services, delivering overall revenue 2% lower in the quarter …” said the group.

“Home Services was 8% lower, primarily due to soft demand from customers in broadband and fewer compelling new handset launches in mobile during the period …

“In Travel, performance was predominantly impacted by lower conversion in car hire, which resulted in revenue being 15% lower in the quarter.”

In its outlook, MONY Group said: “Our solid performance and continuing strategic progress give the board confidence that the group will deliver full year 2024 results in line with current market expectations. As previously stated, we continue to expect no material energy revenue in FY24.”

MONY said market expectations of adjusted EBITDA for 2024 are in a range of £135.8 million to £142.1 million.

MONY Group CEO Peter Duffy said: “We delivered a solid financial performance in the quarter, in line with our expectations, while lapping the very strong performance last year. I am also pleased with our continued strategic progress, especially in the SuperSaveClub which continues to grow with momentum, now reaching over 750,000 members.”