sees revenues down despite new tech platform

New technology has been introduced at despite a slump in revenues in the final quarter of 2015.

The Group travel brand saw revenues for the three months to December 31 drop by 11% to £3.6 million.

However, overall revenues for for 2015 rose by 8% year-on-year to £24.5 million.

Peter Plumb, chief executive of Moneysupermarket Group, said: “In December we successfully rolled out our new technology platform to car and home insurance and to achieving a major milestone in our three year technology investment programme, and paving the way for benefits for our customers in 2016.”

He was speaking as the group issued a trading update with total adjusted operating profit projected to grow by 13% to £99 million, described as being a little ahead of market expectations. Revenues are expected to grow by 14% to £282 million.

The group includes insurance, money and home services in addition to travel.

Plumb said: “2015 has been another strong year for the group with all brands delivering healthy growth.

“I am particularly pleased that we have helped many more people switch their energy supplier, credit card and current account than ever before.”

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