Demerger costs Go Compare
Go Compare’s demerger from parent company Esure cost the business £8.1m according to its full year results.
The results highlighted a fall in operating profit from £23.1m in 2015, to £21.1m in 2016. Without the costs associated with listing the business, the company made an adjusted operating profit of £30m, a growth of 29.9%. Revenue rose from £118.9m to £142.1m over the period representing a growth of 19.5%.
Matthew Crummack, CEO of Go Compare described 2016 as ‘transformational year’. He said, ‘As we move forward into 2017, we are focused on continuing to build on our truly independent and unbiased services that help people everywhere save time and money.’