- Price comparison website Moneysupermarket.com Group PLC said its half-year performance was ahead of expectations, with the travel insurance market recovering and ‘exceptional’ trading in its Money arm.

Shares in FTSE 250-listed Moneysupermarket were up 12% at 215.20 pence in London early Thursday.

Revenue for the first half of 2022 rose 19% to £193.2 million from GBBP162.3 million a year before. This was boosted by a strong performance in Money and travel channels, with Money revenue up 50% and travel sales soaring to £8.0 million from just £1.0 million a year before.

This was offset to some extent by the closure of the energy switching market, and it expects this will remain closed this year. Home Services, which contains energy switching operations, recorded a 59% decline in revenue to £18.8 million.

Pretax profit increased 14% to £42.1 million from £37.0 million and adjusted earnings before interest, tax, depreciation and amortisation rose 10% to £56.6 million from £51.3 million.

‘Trading dynamics for the rest of the year will be influenced by macro developments in travel and the ongoing transition to a steady state in the car and home insurance markets following the introduction of the FCA General Insurance Pricing regulations,’ it said, adding that it is confident in delivering full-year Ebitda at the upper end of market expectations.

The interim dividend was held steady at 3.1p.

‘As the cost-of-living crisis bites, we’re doing all we can to help the British consumer. We’ve performed well with strong profit growth despite some mixed end markets. At the same time we’re making strategic progress towards becoming a flexible tech-led savings platform, with all our core data now in Google Cloud Platform,’ said Chief Executive Peter Duffy.

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