Moneysupermarket revenues grow in Q1
Price comparison website Moneysupermarket said on Tuesday that first-quarter group revenues had grown in the three months ended 31 March, with its travel and money units both showing marked year-on-year improvements.
Moneysupermarket said money revenues were up 37% at £24.8m, led by a recovery in borrowing, while travel revenues surged 796% to £3.2m for the unit's best quarter in two years. On the other hand, home services revenues slumped 65% to £9.1m and insurance revenues were broadly flat at £41.1m.
Looking forward, Moneysupermarket added that the factors affecting its markets were unchanged from those outlined at the time of its preliminary results in February, with the board continuing to expect full-year underlying earnings to increase to roughly 2020 levels, with profit weighted to the second half.
Chief executive Peter Duffy said: "We are pleased with the strong recovery in money and travel, and continue to execute well against our strategy. With cost-of-living increases adding pressure to consumer budgets, our distinctive brands remain well-positioned to help households save money in a broad range of areas."
As of 0820 BST, Moneysupermarket shares were up 1.15% at 175.0p.