Earnings up at price website

City A.M. Reporter
BRITISH price comparison website Moneysupermarket.com said yesterday it expected full-year core earnings to be at the upper end of expectations after trading improved across all its sectors.

The site, which offers services such as travel, insurance and money, said trading in the fourth quarter had continued to be strong boosted by its advertising campaign fronted by comedian Omid Djalili and Labour politician Lord Prescott.

It now expects full-year revenues to be in the region of £149m and adjusted Ebitda to be at the upper end of market expectations at around £41m.

“Trading improved throughout the course of the second half of the year in all of the group’s verticals with UK internet revenues and adjusted Ebitda approximately 13 per cent and 32 per cent respectively ahead of the second half last year,” said the company. The group said it had cash balances of £36.5m and was debt free at the end of the year.

Shares in Moneysupermarket.com closed 10.86 per cent up on the results at 85p.

In a note, Numis Securities said: “We believe that Moneysupermarket.com remains attractive to investors on a number of levels.”