Moneysupermarket FY boosted by travel as Covid curbs eased

16th Feb 2023 07:39

(Sharecast News) - Price comparison website Moneysupermarket.com said annual earnings rose, driven by a strong performance in its travel unit as international Covid pandemic restrictions were lifted.

Pre-tax profits in the year to December 31 rose to £85.2m compared with £70.2m a year ago. Sales were £387.6m, up from £316.7m the previous year and the total dividend was held at 11.71p.

Revenues at the group's travel sector showed the biggest percentage rise over the year, soared 265% to £15m.

Home services, which includes energy supplies, fell 42% to £40m as the UK government's energy cap stopped customers from switching providers.

Money revenue leapt 37% to £103.3m, while insurance operations rose 8% to £172m.

Operating cash flow rose to £104.4m from £65.7m a year ago, while net debt reduced to £37.2m from £59.6m.

Reporting by Frank Prenesti for Sharecast.com