Trading Statement

RNS Number : 7100V

Moneysupermarket.com Group PLC

20 April 2016

 

20 April 2016 - Moneysupermarket.com Group PLC Trading Update

The Group is releasing this trading update to coincide with its AGM which is being held later today.  The financial and operational information in this statement relates to the period 1 January to 31 March 2016 unless otherwise stated.

The Group had a solid start to the year, with Group revenues up 9%.  Performance across the business was as follows: 

	Revenues for the three months to 31 March 2016
	£M	Growth y-o-y (%)
MoneySuperMarket.com -  Insurance -  Money -  Home Services	76.0 36.1 22.7 17.2	12 -2 21 39
MoneySavingExpert.com	11.2	43
TravelSupermarket.com	5.3	-24
Intragroup revenues	(8.8)
Group revenues	83.7	9

The key drivers in the first quarter were as follows:

-     Insurance momentum improved due to the initiatives put in place, including the additional marketing previously highlighted.

-     Money continued strong growth driven primarily by credit cards and current accounts.

-       Home Services benefited from the success of Group collective energy switches and attractive fixed term tariffs. 

-       MoneySavingExpert.com continues to perform strongly with strong credit and energy growth.

-       The challenges in the holiday market remain.  As mentioned in March, trading in TravelSupermarket.com continues to be difficult with remedial work likely to continue through much of 2016.

Peter Plumb, CEO of Moneysupermarket Group, commented:

"In the first three months of the year a record 1.7 million families used Moneysupermarket.com Group to save money on their household bills, which allowed us to grow revenues by 9%.

Our collective energy switches are becoming ever more popular. The recent CMA report not only emphasised the importance of price comparison sites to encourage energy competition, but also looks set to make it easier for us to help even more customers.

More and more people realise there are great savings to be made by using MoneySuperMarket to switch and save."

Outlook:

The Board remains confident of meeting its full year expectations.

For further information, contact:

Matthew Price, Chief Financial Officer

Tel:  [phone]

William Clutterbuck, Maitland

Tel: [phone]

This Trading Statement may include statements that are forward looking in nature. Forward looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Except as required by the Listing Rules and applicable law, the Group undertakes no obligation to update, revise or change any forward looking statements to reflect events or developments occurring after the date such statements are published. The information in this release is based on management information.

 

END

 

 

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