‘Strong year’ propels MoneySuperMarket towards £99m profit

Moneysupermarket.com Group Plc is on track to achieve profit and revenue growth for the 12 months to December 31.

The Chester-based price comparison business has confirmed it expects its full-year performance to beat market expectations, with an adjusted operating profit around 13% ahead of 2014’s figure at £99m.

Further, the company has forecast year-on-year growth of 14% in its group revenue, which is predicted to hit £282m.

Takings in MoneySuperMarket’s Home Services business are set to grow by 68%, placing it ahead of the firm’s other segments.

Meanwhile, growth in the company’s Insurance offering, at 2%, was stunted due to higher than anticipated competitor marketing activity.

MoneySuperMarket’s CEO, Peter Plumb, said: “2015 has been another strong year for the Group with all brands delivering healthy growth.

“I am particularly pleased that we have helped many more people switch their energy supplier, credit card and current account than ever before.”

He continued: “In December we successfully rolled out our new technology platform to car and home insurance and to TravelSuperMarket.com achieving a major milestone in our three year technology investment programme, and paving the way for benefits for our customers in 2016.”

The news follows the announcement of MoneySuperMarket’s increased credit facility with Lloyds Bank and Barclays, which rose to £100m in December.