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MoneySuperMarket profits down in wake of pandemic
StockMarketWire.com
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Price comparison website MoneySuperMarket.com has reported a slump in profits in 2020, following the impact of Coronavirus and lockdowns in the UK.
Profits at the company fell 27% to £69.3 million, from £94.9 million in 2019.
Revenues declined across all divisions, falling by 11% compared to the previous year, but the company maintained strong operating cash flows of £83.9 million and finished the year with a net cash position of £23.6 million.
Dividend per share has remained unchanged, maintaining a value of 11.71p per share.
Peter Duffy, CEO of Moneysupermarket Group, commented:
The business is resilient, and our dividend reflects our confidence for the future.
Our job now is to encourage consumers to engage with us more and save on more of their bills. We will use our data better so consumers find our sites easier to use and are reminded when there are savings available to them.
Story provided by StockMarketWire.com
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