turnaround is ‘on plan’ turnaround is ‘on plan’

A turnaround at comparison site is “on plan”.

The announcement was made by parent company in a trading statement this morning. revenues were down by 9% to £22.3 million for the 2016 full year over the previous 12 months.

However, the travel site saw revenues rise by 21% year-on-year to £4.4 million in the final three months of the year.

Overall annual group revenues rose by 12% to £316 million to give an adjusted operating profit up by 8% to £108 million. Revenues for the three months to December were up by 20% to 73.8 million.

“The turnaround is on plan,” the company said.

Chief executive, Peter Plumb, said: “Twenty per cent growth in the final quarter of 2016 closes off another good year for Moneysupermarket Group.

“We helped nearly 7 million families save an estimated £1.8 billion on their household bills last year.

“Our technology, data and brand investment programmes are positioning the group to continue to lead the market and help more families save money across a growing range of products in the years ahead.”

Former John Lewis retail director Mark Lewis is to take over from Plumb on April 10.

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