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Interim Announcement 2012

26/07/2012

MoneySupermarket.com Group PLC interim results for the six months to 30 June 2012

Strong results and cash generation

MoneySupermarket.com Group PLC ("MoneySupermarket.com" or the "Company"), the UK's leading price comparison website, announces its interim results for the 6 months to 30 June 2012.

Financial highlights Six Months Ended
June 2012
Six Months Ended
June 2011
Change
Group revenue £102.2m £91.7m 11%
Adjusted revenue (1) £102.2m £88.8m 15%
Adjusted gross profit (1) £73.3m £63.4m 16%
Adjusted EBITDA (1) £28.7m £23.0m 25%
Statutory profit after tax £8.8m £8.8m -
Cash balance £36.7m £32.2m 14%
Interim dividend for the period 1.8p 1.5p 20%
Special dividend for the period - 3.93p n/a


Financial highlights

  • Adjusted revenue increased by 15% to £102.2m (2011: £88.8m).
  • Adjusted EBITDA increased by 25% to £28.7m (2011: £23.0m).
  • Adjusted gross margin improved to 71.7% (2011: 71.4%).
  • Cash balances of £36.7m (2011:£32.2m) at 30 June. The Group continues to be highly cash generative, and converted 106% of EBITDA to cash.
  • Interim dividend increased by 20% to 1.8p per share.

Operational highlights

  • Market-leading position and share maintained in competitive marketplace.
  • Continued structural growth in our online markets and targeted investment in technology and brand building helping to improve conversion rates.
  • Marketing investment +8% with adjusted revenues +15%:
    • New TV campaign introduced £1,000 household savings message.
  • Digital investment is already benefiting the business:
    • Internal team of over 50 people continues to improve SEO (unpaid ‘natural’ search). SEO revenue +29%.
  • Proposed acquisition of MoneySavingExpert.com (MSE) for up to £87m approved by shareholders subject to OFT approval:
    • Trusted MSE website, Forum and Newsletter (received by 5m users) performing well post announcement of acquisition.

Outlook

Trading in July has been in line with expectations with revenues approximately 10% ahead of the same period last year. The Board remains confident in the prospects for the full year.

Peter Plumb, MoneySupermarket.com Chief Executive Officer, said:

“We’ve maintained our strong momentum in the first half of 2012. We’re on track to save customers over £1 billion this year. More households are reacting to the uncertain economic outlook by seeking savings on a range of products and services, and MoneySupermarket helps them do just that. We’re one of the easiest ways for a family to save £1,000 on their household bills.

“The 15% rise in revenues and 25% increase in profits were achieved because we continue to invest in the MoneySupermarket brand, in cutting edge digital marketing and technology, and in striving to be the best shop for consumers. We are continuing to recruit talented digital marketers.

“We are in a structurally growing market but we will only continue to succeed if we carry on giving customers and product providers a better and broader service than they can get elsewhere. That way we can save households money, build the business and generate strong returns for our shareholders.

“The proposed purchase of MoneySavingExpert.com will add to what we offer consumers. It is among the most trusted brands in consumer finance. Our two brands – while continuing to operate independently – will give us a greater ability to help more customers and will accelerate progress towards our goal of helping every consumer make the most of their money.’’

(1) See Notes – Basis of Preparation in ‘Financial and Business Review’.

Results presentation

There will be a presentation for investors and analysts at UBS, 1 Finsbury Avenue, London, EC2M 2PP at 9.30am this morning. The presentation will be streamed live. Visit: http://corporate.moneysupermarket.com/ to register and listen.

For further information, contact:

Paul Doughty, Chief Financial Officer, MoneySupermarket.com
Tel: 0207 379 5151

William Clutterbuck, Maitland
Tel: 020 7379 5151

moneysupermarket.com

© Moneysupermarket.com Group PLC 2014

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