- Group revenue slightly higher at £225.3 million
- £30 million share buyback continues
- Shares down 11% over the past year
Shares in MONY Group (MONY) were down over 8% to 201p in morning trading after the price comparison site reported lower revenue in the first half for most of its divisions – insurance, travel, and cashback.
Revenue from insurance, the group's largest division was down 2% compared to a very strong prior year, the company said, with car insurance premiums down 9%.
Travel revenue was down 2% to £11.4 million due to high competition in car hire although there was a solid performance in package holidays.
However, the company reported a 1% rise in group revenue to £225.3 million for the six months ending 30 June.
Home services revenue was up 29% to £21.6 million, and Money delivered strong growth of 4% driven by strong activity in borrowing underpinned by growth in credit cards and ‘an improving trend in personal loans.’
On the positive note, the price comparison site owner said it helped customers save an estimated £1.4 billion with SuperSaveClub members surpassing the 1.5 million members milestone which now generates 14% of its group revenue.
WHAT DID THE CEO SAY?
Peter Duffy, CEO of MONY Group, said: ‘We've started the year well, hitting strategic milestones and growing revenue and profits despite the challenges faced in some of our end markets.
Ours is a business that only makes money if customers save money and in the first half of 2025, we helped customers to save an estimated £1.4 billion.
Since February, we have welcomed over half a million new members to the SuperSaveClub, bringing total membership to just over 1.5 million - we see plenty of room for further growth.
‘The investment we've made to date in our data and tech platform means we have a scalable and competitive springboard to unlock further AI (artificial intelligence) and innovative product development opportunities.’
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