Moneysupermarket.com Group Plc has released its financial results for the first six months of 2022.
Here’s how the comparison giant fared in the first half:
|
Metric |
First half 2023 |
First half 2022 |
|---|---|---|
|
Group revenue |
£213.8 million |
£193.2 million |
|
Adjusted EBITDA |
£67.7 million |
£56.6 million |
|
Profit after tax |
£41 million |
£33.7 million |
Broken down, revenue from insurance grew 23% while that from travel saw a 42% increase. Revenue from cashback was up 1%. Money and home services, meanwhile, posted a slight decline (by 2% and 1%) in their respective results.
“This is a strong first-half performance, particularly in insurance where we have won market share in a growing switching market,” the company, which benefitted from the new general insurance pricing regulations, said in an emailed release.
“We expect the trends seen in insurance and money in the period to continue… The continued strategic progress and measures we are taking to drive growth gives the board confidence the group will be towards the upper end of market expectations for the year.”
Chief executive Peter Duffy, meanwhile, pointed to the firm’s progress in terms of technology.
“Our purpose is to help everyone save money on their household bills, and this has never been more vital as cost-of-living pressures bite,” he said. “But it has got to be easy to use our site. And that’s where we’ve made good progress.
“The tech behind our trusted brands has been modernised and made increasingly common across the group. The more scalable it is, the more efficient our business is and the more we can invest in new tools and personalised features that help people save on more of their bills.”
The company, whose recent marketing campaign features Dame Judi Dench (pictured above), is the name behind brands MoneySuperMarket, MoneySavingExpert, TravelSupermarket, Quidco, and Icelolly.
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