Moneysupermarket boosts revenue despite falling insurance premiums
Price comparison website Moneysupermarket has reported an increase in revenue in its latest trading update, despite falling insurance premiums.
Insurance revenues grew by two per cent to 48.7m, while revenues in its money division jumped seven per cent to 21.8 per cent in the three months to the end of September.
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In the nine months to 30 September insurance revenues were boosted by three per cent year-on-year to £142m despite a falling premium cycle, the company said.
Total revenue for the full year to the end of last month was up six per cent to £270m.
Moneysupermarket Group chief executive Mark Lewis said: "Trading continues on track as we reinvent the business to help our customers save more money.
"Decision Tech is now on board with its B2B comparison expertise. Energy switching in our Home Services business was better than expected with customers taking advantage of great 18 month fixed deals to beat rising prices."
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