MoneySupermarket.com delivered impressive growth last year as cash-strapped consumers increasingly turned to the price comparison website in search of cheaper deals for such services as insurance and energy. "This is another powerful performance from MoneySupermarket," remarked chief executive Peter Plumb. "We saved customers over £900m in 2011, up from £690m in 2010."
That has come at a cost, however, with marketing investment having grown 24 per cent to £78m. But, with visitor numbers in money and insurance divisions up 11 per cent and 12 per cent, respectively - these two divisions generate 86 per cent of group revenues - it looks like money well spent. Moreover, Mr Plumb says that the start to the year has been good with revenues up 15 per cent on the same period last year. Still, at the travel business there's evidence that people are browsing rather than buying - revenue there fell 4 per cent. Although, with energy costs soaring, the home services side reported more visitors and a 48 per cent revenue hike. The gross margin rose to 71.9 per cent from 71.3 per cent, too, and cash generation remains robust - which helped drive an impressive dividend hike.
Numis Securities expects adjusted EPS of 7p for 2012 (6.3p in 2011).
MONEYSUPERMARKET.COM (MONY) | ||||
|---|---|---|---|---|
| ORD PRICE: | 126p | MARKET VALUE: | £642m | |
| TOUCH: | 126-127p | 12-MONTH HIGH: | 127p | LOW: 82p |
| DIVIDEND YIELD: | 3.6% | PE RATIO: | 38 | |
| NET ASSET VALUE: | 33p* | NET CASH: | £35m | |
| Year to 31 Dec | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
|---|---|---|---|---|
| 2007** | 163 | 16.7 | na | na |
| 2008 | 179 | -51.5 | -11.8 | 3.50 |
| 2009 | 137 | 3.18 | 0.4 | 3.50† |
| 2010 | 149 | 11.0 | 1.50 | 3.83 |
| 2011 | 181 | 24.3 | 3.30 | 4.53† |
| % change | +21 | +121 | +120 | +18 |
Ex-div:28 Mar Payment:27 Apr *Includes intangible assets of £161m, or 32p a share **Pro forma figures (prior to listing) †Excludes special dividends: 9.84p in 2009 and 3.93p in 2011 | ||||
