Revenue growth offsets decline in Travel business for MoneySuperMarket

Price comparison firm Moneysupermarket Group has reported a buoyant start to the year with growth across most elements of its business.

The Chester-headquartered company saw its overall revenues increase to £83.7m during the three months to March 31, a year-on-year rise of 9%.

Revenues from its TravelSupermarket.com business over the quarter, however, dropped by 24% to £5.3m.

Other websites in the group performed better. MoneySavingExpert.com’s takings skyrocketed by 43% to £11.2m, while MoneySuperMarket.com saw revenues rise by 12% to £76m.

Of MoneySuperMarket.com’s three core areas, Home Services reported the strongest growth at 39%, with Money showing 21% and Insurance a decline of 2%.

Moneysupermarket Group CEO Peter Plumb said: “In the first three months of the year a record 1.7m 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.”

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