Moneysupermarket.com revenue grows, shares rise

Moneysupermarket.com revenue grows, shares rise

Moneysupermarket.com Group (LON:MONY) saw its shares rise on Thursday after it gave investors an impressive full year update.

Shares in the British price comparison website were up by more than 12% during trading on Thursday.

Moneysupermarket.com said that, for the year ended 31 December 2019, group revenue rose by 9% to £388.4 million, compared to the £355.6 million figure posted the year prior.

Meanwhile, adjusted EBITDA was in line with expectations at £141.5 million.

The company added that profit before tax amounted to £116 million, and it lifted its full year dividend by 6%.

“It’s good to report the Group returned to profit growth and once again helped UK households save over £2 billion on their bills,” Mark Lewis, Chief Executive Officer of Moneysupermarket.com Group, said in a company statement.

“Innovation will continue in 2020 as MoneySavingExpert, the most trusted brand for finding energy deals, launches a new energy autoswitching service.”

Moneysupermarket.com said that it is confident in delivering market expectations for 2020.

The news comes alongside an announcement of directorate changes for the group.

The company announced on Thursday the appointment of Supriya Uchil as Non-Executive Director with effect from 1 March 2020 and James Bilefield as Non-Executive Director with effect from 1 May 2020.

“I am very pleased that Supriya and James have agreed to join our Board as Non-Executive Directors. With Supriya and James’ product and digital experience, they will be valuable additions and complement the diverse backgrounds and experience of our Board,” Robin Freestone, Chair of the Company, commented on the appointments.

Last year in October, shares in the company dropped after it saw growth slow down in the third quarter.

Shares in Moneysupermarket.com Group plc (LON:MONY) were up on Thursday, trading at +12.73% as of 12:09 GMT.