Moneysupermarket.com achieves £14m profit growth

Price comparison website Moneysupermarket.com achieved profit and revenue growth in 2015 despite headwinds in its Insurance business.

In the 12 months to December 31, the Chester-headquartered firm saw its pre-tax profit rise by £13.8m to £79.8m, an increase of 21%, while its operating profit grew by 26% to £80.5m.

Group revenue, meanwhile, stood at £281.7m, representing a year-on-year increase of 14%.

Moneysupermarket.com’s Homes Services offer saw the biggest revenue increase, rising year on year by 68% to £37.5m, while its Money category achieved revenue growth of 23% at £72.4m. Revenues in the company’s Insurance services, however, rose by just 2% due to its competitors’ increased marketing spend.

Now, the firm said it plans to ramp up own its marketing spend by between £3m and £5m this year in a bid to boost its Insurance segment.

In 2015, which was year two of its three-year investment strategy, Moneysupermarket.com ploughed £20m into technology.

Peter Plumb, the CEO at Moneysupermarket.com, said: “This was another good year for the Group, achieving 14% growth by saving customers over £1.6bn on their household bills.

“People are clearly getting more comfortable switching products beyond motor insurance, with the Group helping over 500k households switch their energy and 1.6m people get a better deal on their finances.”

He added: “As we roll out our new technology platform and create more expert help, tools and guides, we all look forward to helping more households save more money on more things in 2016.”

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