CHESTER-based website operator Moneysupermarket.com said it expects earnings for the year to be at the upper end of market expectations of around £41m, in a trading update today.
It said trading in the fourth quarter continued to be strong, in line with the most recent interim management statement issued in November last year.
The board said it expects full year revenues to be around £149m, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) should be in the region of £41m after excluding £700,000 of costs from the acquisition of Financial Services Net.
Trading throughout the group improved during the second half of the financial year, with UK internet revenues and adjusted EBITDA about 13% and 32%, respectively, ahead of the second half in the previous year.
The board also said the group’s financial position remains strong. By the end of 2010 it had cash balances of £36.5m and was debt free.
Results for the full year for 2010 will be released on March 1, 2011.
