Half-year profits rise to £49.5m at MoneySuperMarket

Moneysupermarket.com Group PLC, the online comparison business, has announced half-year profit and revenue growth.

The Chester-headquartered company’s pre-tax profit climbed to £49.5m during the six months to June 30, up 5% against the same period in 2016.

Group-wide revenues, meanwhile, rose year on year by 5% to £165.3m.

The firm achieved growth across all three of its core businesses, with revenues from its MoneySuperMarket.com website growing by 3.6% to £147.3m, from TravelSupermarket.com by 9.9% to £12.2m and MoneySavingExpert.com by 3.6% to £20m.

The amount the firm invested in technology dipped slightly in comparison to H1 2016, falling from £10.4m to £9.5m, while average monthly unique visitors across its websites remained static at 24.3m.

Moneysupermarket.com Group CEO Mark Lewis said: “We’ve helped more people take control of their household bills than ever before, saving our customers £1.1bn in the first half of this year.

“Insurance switching grew an encouraging 18%. However, the energy market continues to evolve and the lack of blockbuster energy deals from providers meant we didn’t collectively switch as many people as last year.”

He added: “Our focus now is on using our tech investment to find new ways to help our customers, particularly on mobiles, and improving our everyday energy switching.”