Moneysupermarket revenue increases in the first quarter

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Price comparison site Money supermarket said on Tuesday that the group’s first-quarter revenue increased in the three months ended March 31, with its travel and money units both showing marked year-over-year improvements.

Moneysupermarket said cash income rose 37% to £24.8m, helped by a recovery in borrowing, while travel income jumped 796% to £3.2m for the better quarter of the unit in two years. By contrast, home services revenue fell 65% to £9.1m and insurance revenue was broadly flat at £41.1m.

Looking ahead, Moneysupermarket added that factors affecting its markets were unchanged from those described at the time of its preliminary results in February, with the board continuing to expect underlying earnings from the full year rises to roughly 2020 levels, with second-weighted profit. half.

Managing Director Peter Duffy said: “We are pleased with the strong recovery in cash and travel, and continue to execute our strategy well. With the rising cost of living increasing pressure on consumer budgets, our distinctive brands remain well positioned to help households save money in a wide range of areas.”

As of 08:20 BST, Moneysupermarket shares were up 1.15% at 175.0p.

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