Moneysupermarket.com Group has announced that its pretax profit for the first half of the year has risen, thanks to lower costs. However, the company also faced challenges due to the impact of interest rates on loans and mortgage conversion during this period.
During the first half of 2022, Moneysupermarket.com Group’s pretax profit reached £53.3 million ($68.5 million), showing a significant increase compared to £42.1 million in the same period last year. Additionally, the company’s revenue rose from £193.2 million to £213.8 million.
To reward its shareholders, the board has declared an interim dividend of 3.2 pence per share, up from 3.1 pence per share in the previous year.
Moneysupermarket.com Group highlighted the strong performance of its insurance division, which experienced a 23% growth driven by the car insurance sector. The company also gained market share in this area and expects this positive trend to continue in both the insurance and money divisions.
Peter Duffy, Chief Executive of Moneysupermarket.com Group, expressed his confidence in the company’s future growth, stating: “The continued strategic progress and measures we are taking to drive growth give the board confidence that the group will surpass market expectations for the year.”