Shares of Chester-based MONY Group plc, which runs the price comparison and consumer tip websites MoneySuperMarket and MoneySavingGroup, rose as much as 7% after it said its 2024 revenue rose 2% to a record £439.2 million and it announced share buyback programme of up to £30 million.
MONY said revenue was “driven by good performance in Insurance particularly in the first half, as well as growth in Cashback.”
MONY Group has proposed a final dividend per share of 9.2p, bringing the total dividend for FY24 to 12.5p, up 3%.
The firm announced a share buyback programme of up to £30 million “reflecting MONY Group’s strong cash generation and robust financial position.”
Profit before tax for 2024 rose to £108.7 million from £92.1 million.
MONY Group CEO Peter Duffy said: “We are proud to have helped customers save a record £2.9 billion – the more customers save, the more the group grows.
“We’ve done this by delivering strong performance both operationally and financially in 2024 as we continue to execute on our strategy.
“This includes encouraging customers to join our member-based propositions like the SuperSaveClub which, in turn, reduces our reliance on increasingly expensive pay-per-click (PPC) marketing.
“This sustained momentum has enabled us to grow the dividend by 3% this year, alongside the announcement of a share buyback programme of up to £30 million, which will deliver enhanced returns to shareholders.
“This reflects our confidence in the continued execution of our strategy, and importantly, means we retain significant capacity to support future growth.”
In its outlook, MONY said: “Our recent trading performance, coupled with momentum in our strategic execution gives the Board confidence that we will deliver Adjusted EBITDA for 2025 broadly within our current published consensus.
“Despite headwinds in the car insurance switching market, strength in our breadth provides us with resilience and we continue to see other opportunities for growth across the business.
“We anticipate operating cost inflation (excluding Depreciation and Amortisation) to be largely mitigated through our ongoing focus on cost efficiency.
“We remain well positioned to continue to deliver sustainable, profitable growth.”
MONY said analyst consensus for Adjusted EBITDA for 2025 is £147 million with a range of £143.1 million to £151.7 million.