Moneysupermarket.com eyes strong FY

12th Jan 2011 07:45

Price comparison website Moneysupermarket.com said trading in the fourth quarter has continued to be strong and it expects full year earnings to be at the upper end of market expectations."The board 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, after excluding costs incurred in relation to the acquisition of Financial Services Net of approximately £0.7m," the group explained in a company statement.Moneysupermarket said trading improved throughout the course of the second half of the year in all areas of the group. UK internet revenues and adjusted EBITDA were up around 13% and 32% respectively, ahead of the second half last year. As at 31 December 2010 Moneysupermarket had cash balances of £36.5m and was debt free.