Profits up at Moneysupermarket

Price comparison website Moneysupermarket reported a 44% rise in profits to £30.2million in the six months to the end of June.

The firm, which also owns finance website Moneysavingexpert.com, said its revenues increased by 18% to £143.9million, with three million customers shopping around for insurance, energy and credit card deals.

Revenue from customers switching energy providers rose 93%, with a 20% rise in revenues from customers.

Peter Plumb, chief executive officer at Moneysupermarket said, ‘We helped three million families save on their household bills in the first six months of 2015.’

‘Revenues grew 18% while we put more into tech investment to make MoneySuperMarket and TravelSupermarket the easiest way for families to make their money go further.’

Moneysupermarket said it would pay an interim dividend of 2.55p per share, up from 2.31p. Bosses at the price comparison website are said to have invested £8million in new technology

Share prices rose by 4.5p to 296p.