Moneysupermarket.com (LON:MONY) announced its preliminary results on Thursday for the year ended 31 December 2018. Indeed, the British price comparison website posted an 8% rise in revenue as it significantly progressed its strategy in accelerating growth. Shares in the company were up by almost 5% during early trading on Thursday morning.
Group revenue was up 8% to £355.6 million compared to £329.7 million the year prior.
Operating profit was £108 million, a 14% jump compared to £94.9 million from the previous year.
Adjusted EBITDA was £129.4 million, 2% higher than the £127.2 million figure from 2017.
Total dividend was up 6% to 11.05p per share, reflecting its “progressive” dividend policy.
During the beginning of the 2018 year, Moneysupermarket.com reported a 4% growth in revenue for the first-quarter.
The results confirmed that the price comparison service was on track for the rest of the year.
CEO of Moneysupermarket.com, Mark Lewis, commented on the results:
“In 2018 we made great progress on our Reinvent strategy. As well as growing the business we helped save customers a record £2.1bn. Our investment in optimising our sites means we have made saving even easier.”
“In 2019 we are taking price comparison to the next stage by offering people more personalised ways to save and on more of their household bills.”
But, though the company has said that its markets remain “dynamic” and “healthy”, it has predicted that its core market will grow 4-5%, below its previous estimate. It now expects a later recovery to motor insurance premium inflation, the company warned.
Looking ahead, the company has said it is “confident” that it will deliver market expectations for the new year amid an “encouraging” first six weeks.
In addition to the results, the company also revealed a directorate change. It has been announced that Robin Freestone will be appointed Chairman of the company’s board.
At 08:51 GMT Thursday, shares in Moneysupermarket.com Group plc (LON:MONY) were trading at +4.85%.
