In the six months to 30 June, the price comparison website saw its closely watched profit after-tax performance jump to £50.2m, up from £42.5m posted over the equivalent period a year prior.
Total group revenue meanwhile stood at a healthy £199.4m on the back of ‘exceptional energy switching’ and the benefits percolating through from the acquisition of Decision Tech in August 2018. This saw operating profits of £61.4m generated alongside an EBITDA of £72.9m.
This growth is being attributed to the group’s Reinvent strategy to increase profitability of its core business while simultaneously expanding to encompass new markets.
Mark Lewis, chief executive officer at Moneysupermarket Group, commented: “We grew the business strongly in the first half, already helping households save over £1bn this year, particularly after the energy price cap came in and then went up. Millions of people faced rising energy bills and we helped many of them to find a better deal, saving them hundreds of pounds in just a few minutes on our sites.
“Our Reinvent strategy continues to make it easier and quicker to save and is now supported by the new MoneySuperMarket branding, which encourages people to ‘Get Money Calm’ by using our site to pay less across a broad range of bills.”
These results are being attributed to the success of the ‘Moneysupermaaahhhket‘ campaign created by Engine.
SOURCE: News – Read entire story here.