Moneysupermarket.com FY profit more than doubles

Reuters News
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Posted: Feb 28, 2012 5:03 AM
Moneysupermarket.com FY profit more than doubles

(Reuters) - Price comparison website Moneysupermarket.com Group PLC said its full-year profit more than doubled as more consumers used its online services, boosting performance particularly in the company's insurance and money segments.

Moneysupermarket, which had 120 million visitors in 2009, said 2012 revenue and earnings before interest taxes depreciation and amortization (EBITDA) were about 15 percent ahead of year-ago levels.

"Trading in the money and insurance verticals has continued to be strong. Travel revenues reflect the tough underlying market," the company said in a statement.

The British firm, which offers services such as travel, insurance and shopping deals, said pretax profit for 2011 was 24.3 million pounds ($38.49 million), up from 11 million pounds last year.

Revenue climbed 22 percent to 181 million pounds, aided by a strong performance in its core insurance segment and its money vertical that offers deals on products like loans, credit cards and mortgages.

"2012 is shaping up to be a really tough year for customers," Chief Executive Peter Plumb said. "More people are buying a growing number of products via our site."

Moneysupermarket's website also offers services on products ranging from broadband and mobile phones to electricity bills and home insurance.

The firm increased its total dividend payout to 8.46 pence for the year -- including a special dividend of 3.93 pence -- from a dividend of 3.83 pence a year earlier.

The company's shares were trading up 3.62 percent at 126 pence at 0804 GMT on Tuesday on the London Stock Exchange.

($1 = 0.6313 British pounds)

(Reporting by Brenton Cordeiro in Bangalore; Editing by Roshni Menon)