In the money: Moneysupermarket.com revenue swells amid travel return
Price comparison platform Moneysupermarket.com has continued to see buoyant revenue after the return of summer holidays and business travel.
In quarterly results on Tuesday, Moneysupermarket said recent performance had exceeded expectations and its full-year EBITDA would sit “towards the upper end of market expectations”.
The London-listed company celebrated revenue of £101.9m, up one third, for the three months to 30 September.
It’s Money arm saw 42 per cent growth, with the company noting “particularly attractive products available in banking”.
It’s travel arm saw growth of 204 per cent, cashing in £4.5m sales. However, demand for travel products weakened in the quarters “as consumer sentiment softened demand” with revenue around half of pre-Covid levels.
In its insurance sector, growth for travel insurance saw revenue up 15 per cent on pre-Covid levels.
However, this was growth was somewhat offset by car and home, although a decline in market switching volumes did drop off slightly.
The cost of living crisis had made the firm’s “purpose of helping households save money as important as ever,” Peter Duffy, CEO of Moneysupermarket said.
He noted “early signs” of improving trends in the firm’s Insurance market while in its Money arm “more consumers are finding attractive products to switch to”.