Latest news with #SuperSaveClub
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.
The Independent
17-02-2025
- Business
- The Independent
MoneySupermarket firm raises dividend as insurance boosts revenues
The parent firm of MoneySupermarket has said it will hand out higher shareholder dividends and launch a share buyback after revealing a jump in profits. Shares in Mony Group lifted higher in early trading on Monday as a result. The London-listed firm told shareholders that it reported recorded revenues in 2024, as it benefited from growth in its insurance arm. We are proud to have helped customers save a record £2.9 billion - the more customers save, the more the group grows Peter Duffy, Mony chief executive Group revenues increased by 2% to £439.2 million for the year, compared with 2023. Insurance revenues grew by 7% to £235.6 million in the year, driven by a strong first half of 2024. This helped to offset weaker sales in its money, home services and travel comparison businesses over the year. It added that its breadth of business areas is set to help the company continue recent momentum 'despite headwinds in the car insurance switching market'. Mony revealed that its pre-tax profits grew by 11% to £80.2 million as it offset increases to its operating costs. The company said it will pay out a shareholder dividend of 12.5p per share, up 3%, as it also confirmed plans to hand up to £30 million to shareholders through a buyback. Peter Duffy, chief executive of Mony, said: 'We are proud to have helped customers save a record £2.9 billion – the more customers save, the more the group grows. 'We've done this by delivering strong performance both operationally and financially in 2024 as we continue to execute on our strategy. 'This includes encouraging customers to join our member-based propositions like the SuperSaveClub which, in turn, reduces our reliance on increasingly expensive pay-per-click (PPC) marketing.'
