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Price comparison website Moneysupermarket.com Group PLC said it was ‘pleased’ with the performance of its Money and Travel businesses in the first quarter - as the firm's total revenue increased on the year before.
Shares in FTSE 250-listed Moneysupermarket were 3.8% higher in London on Tuesday morning at 179.51 pence each, but have slumped 17% so far in 2022.
In the three months to March 31, total revenue rose 8% to £92.3 million from £85.5 million, with its Money business seeing 37% growth to £24.8 million and Travel jumping sharply to £3.2 million from £400,000.
The firm's largest business - Insurance - saw a flat revenue performance at £41.1 million, but Home Services revenue slumped 65% to £9.1 million.
Chief Executive Peter Duffy said: ‘With cost-of-living increases adding pressure to consumer budgets, our distinctive brands remain well positioned to help households save money in a broad range of areas.’
Looking ahead, Moneysupermarket said it expects its full-year earnings before interest, taxes, depreciation, and amortization to increase to around 2020 levels. For 2020, adjusted Ebitda was £107.8 million, which was down from £141.5 million in 2019, a pre-pandemic year.
Adjusted Ebitda in 2021 was £100.5 million.
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