With savers desperate to fight off inflation and insurance premiums on a relentless march upwards it is little surprise price comparison website Moneysupermarket.com continues to grow. The company's underlying revenue soared 15 per cent in the lastest six-month trading period with the strongest segments seen in the Money and Insurance divisions, up 19 and 17 per cent, respectively. Combined they now account for 90 per cent of total turnover.
There is no sign of this impressive growth slowing either as chief executive Peter Plumb notes that revenues in July were up 10 per cent on the same period last year, adding: "We're on track to save customers over £1bn this year." Moneysupermarket has been building on successful TV advertising campaigns with marketing investment up 8 per cent and staff costs rose 19 per cent reflecting a heavy investment heavily in digital marketing. The £87m acquisition of rival MoneySavingExpert, announced in early June, will not only help boost MoneySupermarket.com's brand and user content, but is also expected to enhance EPS in the first year since completion. The costs relating to that deal dampened the reported numbers, but on an underlying basis EPS rose over 20 per cent to 3.9p.