share price rises as price comparison company reveals boost in profits and revenues for year ended December 2015

Hayley Kirton
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Another good year for the group, said the company's chief executive (Source: Getty)

Share price in closed up today after the company revealed a boost to both its profits and revenues in its preliminary results.

The price comparison website announced adjusted operating profits for its year ended December 2015 of £100.1m, up 15 per cent from £87.3m the year before.

Meanwhile, group revenue grew to £281.7m, up 14 per cent from £248.1m for 2014, led mainly by money and home services.

Shares in the company closed up 2.4 per cent for the day at 346.2p.

"This was another good year for the group, achieving 14 per cent growth by saving customers over £1.6bn on their household bills," said Peter Plumb, chief executive. "People are clearly getting more comfortable switching products beyond motor insurance, with the group helping over 500,000 households switch their energy and 1,600,000 people get a better deal on their finances."

The company also increased its ordinary dividend for the year to 9.15 pence per share, up 14 per cent compared with the prior year's 8p.

The tech-savvy company has also boosted its investments in technology as of late, splashing out £20m in 2015 as part of a three-year investment programme.

Plumb added: "As we roll out our new technology platform and create more expert help, tools and guides, we all look forward to helping more households save more money on more things in 2016."

Analysts at Canaccord Genuity remarked that today's results were "modestly" ahead of guidance.

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