Moneysupermarket makes more despite tough times for savers
MONEYSUPERMARKET has made its investors richer after strong trading in the last year.
Revenues rose 10 per cent to £225.6m while earnings jumped 26 per cent to £84m. Profits after tax were up 40 per cent to £34.7m.
Travel comparisons and home services were proving particularly popular, the firm said yesterday.
Moneysavingexpert, the site set up by Martin Lewis and bought by the firm in 2012, is “trading well” with earnings increasing to £13.3m.
However, the group said its savings comparisons services were still being crimped by the Funding for Lending scheme, which has given banks access to central funding and made customer deposits less attractive.
“We invested across the business last year and it paid off nicely,” said chief executive Peter Plumb.
Simon Nixon, the firm’s founder and 29.5 per cent shareholder, will get £8.2m as part of a 5.12p per share dividend payout.
The FTSE 250 firm hopes to boost its cash flow this year by using its customer data more.
Shares closed up 3.3 per cent.