Insurance switching boosts Moneysupermarket’s Q3 revenues to £80.3m

Price comparison firm Moneysupermarket.com Group PLC has achieved a quarterly turnover hike – despite seeing sales dip in several areas.

The Chester-headquartered company saw revenues for its core MoneySuperMarket.com offering rise to £80.3m, a year-on-year uptick of 6%, in the three months to 30 September 2017.

The website’s Insurance element accounted for the largest slice of the growth, with sales rising by 11% to £47.2m, due to more people choosing to switch insurance providers.

However, the Money and Home Services arms of the website saw sales dip slightly, by 2% (£19.2m) and 1% (£13.8m) respectively.

Group wide, MoneySavingExpert.com posted the strongest growth, as revenues leapt 18% to £10.8m. Conversely, TravelSupermarket.com’s revenues dipped by 1%, to £6.8m, in comparison to the same quarter in 2016.

Moneysupermarket.com Group chief exec Mark Lewis said: “We are on track for another record year because we are helping more people save more money across their household bills: from insurance and credit cards to holidays, broadband and energy.

“We’re particularly encouraged by the continued growth of insurance, and momentum in energy switching, as families look to find better deals.

He continued: “Our message to customers is clear – don’t kid yourself that the energy price cap will be the answer, if you haven’t switched recently you can quickly and easily save £250 today, by switching to a competitive fixed rate!”