Frugal Britons bolster price compare site

City A.M. Reporter
PRICE comparison website said yesterday it had made a solid start to 2013 as strong demand for cheaper insurance, travel and loan deals helped the group to post a 26 per cent rise in 2012 earnings.

Chief Executive Peter Plumb said with consumer spending under pressure, Britons were increasingly comparing prices to help reduce their monthly bills.

“The UK has caught the money saving bug,” Plumb said. “January and February have been good months for us and we expect another record year.”

Core earnings for 2012 rose 26 per cent to £66.5m on revenue of £204.8m, up 13 per cent. Both were in line with guidance.

It increased its final dividend by 30 per cent to 3.94p.