Latest news with #MonyGroup
Daily Mail
08-05-2025
- Business
- Daily Mail
Moneysupermarket reaps the rewards after rush to lock into new energy deals ahead of the April price hikes
Moneysupermarket's energy and home services arm surged as suppliers raised promotional deals in advance of prices rising again in April. The company, owned by Mony Group, said that this fuelled a 'modest' rise in revenue from January to the end of April. The group was updating investors ahead of its annual meeting on Thursday. The energy price cap was hiked again in April, with bills reaching an average of £1,849 a year.
The Independent
08-05-2025
- Business
- The Independent
Moneysupermarket parent group saw energy deals surge ahead of price cap rise
Moneysupermarket said it saw a surge in its energy and home services business as suppliers raised promotional deals in advance of prices rising again in April. The company, which is owned by London-listed Mony Group, said the growth in deals had helped it deliver a 'modest increase' in revenue from January to the end of April compared with the same point last year. That is despite having had 'an exceptionally strong comparative period in 2024″, it said. The group was updating investors on its financials ahead of its annual general meeting on Thursday. The energy price cap was hiked again in April, which saw customer bills reach an average of £1,849 a year. At the time, consumer groups urged the 22 million homes still covered by the cap to consider fixing their prices so they would not be affected by the rise. Mony Group said it is on course to meet its full-year profit guidance and that its money division had seen 'continued momentum' despite fewer banking promotions. Meanwhile, its travel comparison service 'remains stable despite the challenging economic conditions and uncertainty currently impacting the UK consumer'. It comes after the group reported record revenues in 2024 as it benefited from growth in its insurance arm. The insurance division also enjoyed strong trading in home, life and travel insurance, which partly offset 'continued headwinds' in the car insurance switching market. The company added that its SuperSaveClub membership platform passed 1.3 million members.
Evening Standard
08-05-2025
- Business
- Evening Standard
Moneysupermarket parent group saw energy deals surge ahead of price cap rise
The company, which is owned by London-listed Mony Group, said the growth in deals had helped it deliver a 'modest increase' in revenue from January to the end of April compared with the same point last year.
Finextra
06-05-2025
- Business
- Finextra
Flagstone names Darren Bentley chief growth officer
The former Chief Customer Officer for MoneySuperMarket and MoneySavingExpert has joined Flagstone, the UK's largest savings platform* and the fintech engine behind the savings proposition for over 1,000 UK financial services providers, as Chief Growth Officer. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Darren Bentley brings to Flagstone two decades' experience of leading growth strategies for some of the UK's fast-growing, consumer-facing finance brands. Darren spent more than seven years at MoneySuperMarket (now Mony Group Plc), and was appointed to the executive team to lead marketing and growth strategies for the group's three chief brands: MoneySuperMarket, TravelSuperMarket and MoneySavingExpert. Between joining the business and stepping down as Chief Customer Officer in 2019, the group doubled EBITDA (to £129m) and its market cap tripled (to £2.2 billion). Darren joins Flagstone at a pivotal point in the company's growth trajectory. In 2024, Flagstone recorded its second consecutive year of profitability as revenue grew 48% to £55 million and the platform's assets under administration increased by £1 billion a quarter to end the year at £16 billion. In the same period, Flagstone customers generated cumulative returns of more than £500 million on their savings. Simon Merchant, Co-Founder & CEO of Flagstone, comments: 'Adding Darren to our executive team is a coup for Flagstone. In the last two years, Flagstone has achieved formidable growth and satisfied an enormous demand for better, simpler savings for hundreds of thousands of individual and business savers. But the job is only part-way done. Bank of England data tells us that three quarters of UK savers' money is languishing in low or no interest accounts**. Darren's experience and insight will help us invigorate more of these savers to take action with their money - particularly those for whom maximising returns on their money and minimising the risk of financial loss are equally imperative.' At Flagstone, Darren will oversee how the company increases the speed at which billions of pounds are added to the platform by savers every year. Working with marketing, data, product and technology colleagues, Darren will direct strategies around how Flagstone drives awareness of savings as an asset class in its own right, invests in digital marketing to reach the customers that Flagstone is best suited to support, and develops a superior user experience that customers don't ever want to give up. Darren Bentley, Chief Growth Officer, adds: 'Flagstone isn't just selling a great service, but waking savers up to a better way to achieve more with their money, with minimal risk and the simplicity of having access to hundreds of savings products in one place. But signing up more customers is only one of the key metrics for long-term sustained growth. Flagstone savers are trusting the business with their life savings. It's our duty to repay that loyalty with a first-rate experience and to continue to enhance our product and service.' Darren joins Flagstone from LumonPay, the currency exchange service serving 70,000 customers who transfer approximately £9 billion overseas across Europe and North America every year. Prior to Lumon Pay, Darren spent four years at online used car retailer, Cazoo, during which time the company reached £1.2 billion in revenue, selling 120,000 cars a year. Having achieved a second year of profitability and closed one of UK fintech's largest investment rounds in 2024, Flagstone is well positioned for significant growth. Over 2025 and into 2026, the company will launch a Cash ISA and hit milestones on its long-term product roadmap to automate a customer's savings process to maximise interest accrual and security protection.
The Independent
17-02-2025
- Business
- The Independent
Defence stocks boost European markets amid emergency talks over Ukraine war
Defence giant BAE Systems has helped lift London's FTSE 100 higher with investors anticipating greater military spending as European leaders hold emergency talks over the Ukraine war. The UK's top stock market index moved 35.55 points higher, or 0.41%, to close at 8,768.01. BAE Systems, which makes weapons, military vehicles and aircraft, saw its share price jump by about 9% on Monday, taking it to the top of the FTSE 100. It came as Sir Keir Starmer arrived in Paris for emergency talks with fellow European leaders over Russia's war in Ukraine, after US President Donald Trump has been pushing for a deal with Russia's President Vladimir Putin. The Prime Minister said the UK and Europe need to 'step up' in terms of their collective response, and ensure any peace agreement would be long-lasting. Sir Keir is, nonetheless, not expected to increase defence spending beyond current commitments. Banking stocks Barclays and NatWest were also among the day's biggest risers with gains of more than 3% after both companies reported their full-year, financial results last week. Defence giants were also boosting stock exchanges in other European capitals on Monday. In Frankfurt, the Dax was up 1.26% to hit a new record high, with the share price of Germans weapons-maker Rheinmetall surging more than a 10th. In Paris, the Cac 40 index rose 0.13%. Over in the US, stock markets were closed for the Presidents' Day public holiday. Konstantin Oldenburger, a market analyst for CMC Markets, said: 'While the US intends to negotiate a resolution to the war exclusively with Russia and Ukraine, it appears they will leave potential, peacekeeping responsibilities to the Europeans, who will need to significantly boost their defence budgets to do so. 'The notion that the Americans wish to wind down military support for the region has not been new, especially since Trump's election victory. 'However, vice president JD Vance's appearance in Munich made it abundantly clear that Europe must invest heavily to be taken seriously by the US regarding its defence capabilities.' Meanwhile, the pound was strengthening against key currencies on Monday, gaining about 0.4% against the US dollar, at 1.261, and 0.3% against the euro, at 1.203. In other company news, shares in MoneySupermarket owner Mony Group lifted about 5% after telling shareholders it will hand out higher dividends and launch a share buyback. It came after the company reported record revenues in 2024, as it benefited from growth in its insurance arm, and saw its pre-tax rise by 11% compared with 2023. Shares in Mony Group closed 4.8% higher. Elsewhere, property and GP surgery owner Assura rejected a fourth takeover approach from US private equity firm Kohlberg Kravis Roberts (KKR), which valued the firm at £1.56 billion. Assura's share price was 9% higher at close, after KKR said it was considering whether to continue engaging with the board following the latest rejection. The biggest risers on the FTSE 100 were: BAE Systems, up 110p to 1,338p; Schroders, up 13.2p to 384.8p; Barclays, up 9.8p to 304.4p; St James's Place, up 31p to 1,133p; and Entain, up 20p to 764.4p. The biggest fallers on the FTSE 100 were: British American Tobacco, down 65p to 3,025p; Segro, down 15p to 716.4p; Lloyds, down 1.24p to 62.92p; Airtel Africa, down 2.6p to 143p; and Fresnillo, down 14p to 784.5p.
