Google competition does not worry Moneysupermarket.com

PRICE comparison website Moneysupermarket.com said yesterday that it had not seen any “meaningful impact” from Google encroaching on its business with the search giant’s launch of rival offerings.

The company, which compares prices on savings, loans and other financial instruments, said group revenues had risen around 11 per cent year-on-year in the third quarter of the year, which was in line with expectations. Profits were up around 12 per cent.

The firm has recently boosted its bottom line with the acquisition of personal finance website MoneySavingExpert.

Moneysupermarket.com was subjected to analyst downgrades earlier in the year as Google started offering price comparison services integrated into its search.

However, this does not seem to have affected the company’s performance, with visits to its website rising 15 per cent on last year, and seeing improved trading in each of its departments.

“We’re continuing to invest in our digital marketing skills and in technology to keep us at the forefront of price comparison in the years ahead,” chief executive Peter Plumb said, adding that revenues were up 20 per cent since late September, when Martin Lewis’s MoneySavingExpert was integrated into the company.