Moneysupermarket.com expects 10 per cent growth in revenues for first half of 2016

 
Caitlin Morrison
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The firm said growth in its money division was driven partly by transfer balance credit cards

Price comparison website Moneysupermarket.com said it expects to report solid results for the six months to 30 June, with revenues set to rise by 10 per cent.

The online firm is expecting revenue to hit £157.6m for the first half, £142.1m of which will come from the main Moneysupermarket website.

Consumer advice site Moneysavingexpert, which was bought by Moneysupermarket in 2012, contributed £19.2m in revenue during the first half - a 32 per cent year-on-year increase.

The company said one of the key drivers in the second quarter of the year was the fact that "momentum returned to insurance across all product groups", while the growth in the money division continued to be led by balance transfer credit cards.

"As UK families prepare for life after the Brexit vote, with potentially rising energy prices, rising insurance prices and lower interest rates, our trusted brands and services will be there to make sure household bills are as low and easy to switch as possible," said Moneysupermarket Group boss Peter Plumb.

"Moneysupermarket is a pure play digital business, with a strong balance sheet and a new technology platform built to deliver personalised market leading services no matter what device people use to manage their money in the turbulent years ahead."

The group saw the departure of a couple of senior figures last year - chief product officer Graham Donoghue left in October after seven years at the business, and founder Simon Nixon revealed in December that he was stepping down.

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