Comparethemarket kicks stock market float down the road after delivering "record year"

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Annual profits at BGL Group grew by almost a fifth (Source: BGL Group)

Meerkat owners BGL Group has kicked its planned stock market float into 2018.

BGL, which owns Comparethemarket.com as well as sister sites LesFurets.com and BeagleStreet.com, had been expected to debut in London this year.

The news comes as the firm today grew revenue by 14 per cent to £585m and annual profits by a fifth. Total customer numbers increased to more than 8.5m.

Read more: Comparethemarket owner posts double-digit revenue growth

Chief exec Matthew Donaldson said:

We have delivered a record year in terms of revenue, profit and customers, with progression in all our businesses. Comparethemarket.com remains the first choice for customers in price comparison; LesFurets.com is leading the French comparison market; and the significant potential of our insurance distribution and outsourcing division saw it continue to enhance the group’s product offering, where we were delighted to add SunLife and Virgin Money to our portfolio.

“Across all of our operations, we continue to innovate and deliver outstanding digital propositions to our customers, supported by our investment in our new tech and digital hub in London which opened towards the end of the financial year.”

Read more: Comparethemarket.com is considering an IPO

Tags: Insurance