EWLOE-based price comparison website Moneysupermarket.com said it was on target for the year so far, in a trading update today.
It said in the third quarter, to September 30, internet revenues and earnings before interest, tax, depreciation and amortisation (Ebitda) were 14% and 25%, respectively, ahead of the same period last year.
Visitors to the site were 3% ahead of last year, with money, insurance and home services attracting most interest, while travel services declined.
Revenues from money products, including credit cards, loans, and mortgages, were 8% ahead of the same period last year, the same as for non-credit products like savings and current accounts.
Insurance showed a 15% rise in revenues with motor, home, travel and life insurance showing growth.
Home services, comprising mainly utility switching offers, showed a 107% jump in sales during the quarter, although revenues from travel were 11% down and visitor volumes showed a 4% decline.
On August 31 the company paid £1m for a 51% stake in Local Daily Deals which promotes discounted retail offers from local and national companies. The acquisition cost could rise to £11m over three years depending on the achievement of financial targets.
By October 31 the group had net cash of £18.7m, which it said reflected the payment of the half year dividend of £7.7m and a special £20m dividend, as well as corporation tax payments and the £1m outlay for Local Daily Deals.
Trading in the first weeks of the current fourth quarter has seen group revenues climb by 14%, with motor insurance showing the strongest progress.
Chief executive Paul Plumb said today: “Moneysupermarket.com continues to make good progress.
“Revenues in the third quarter were 14% ahead of the same period last year – which itself was a tough act to follow.
“We saw solid growth across our Money, Insurance and Home Services businesses as consumers continue to seek to make the most of their money in what is still a very challenging environment.”
He added: “We’re pleased with the performance in the year to date which is in line with the board’s expectations.”
