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Mony Group PLC on Monday said it will raise its interim dividend after reporting strong performance in the first half. The Deeside, Wales-based company is the operator of the Moneysupermarket and Travelsupermarket price comparison websites. The company changed its name from Moneysupermarket.com Group PLC back in May. In the six months that ended June 30, pretax profit rose 9.0% to £58.1 million from £53.3 million the previous year. Revenue increased by 4.5% to £223.5 million from £213.8 million. Mony raised its interim dividend to 3.3 pence per share, up 3.1% from 3.2p. Cost of sales grew 4.2% to £71.3 million from £68.4 million, while administrative expenses rose 5.5% to £72.9 million from £69.1 million. Chief Executive Officer Peter Duffy said: ‘We’ve made good progress in the first half of the year reaching a best-ever H1 revenue...Ours is a business that only makes money if customers save money and in the first half of 2024, we saved customers £1.7 billion.’ By the end of the first half, Mony said it saw growth across its member-based propositions, reaching a milestone 500,000 members in the MoneySuperMarket SuperSaveClub, up 67% from 300,000 in April. Looking ahead, Mony expects to meet market expectations for the full year and generate adjusted earnings before interest, tax, depreciation, and amortization within the range of £135.8 million to £143.7 million. If Mony achieves the lower end of the range it would reflect an 18% increase from the reported 2023 full-year adjusted Ebitda of £115.5 million, and a 24% increase at the higher end. Mony shares were down 0.7% to 226.00 pence each in London on Monday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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