Canny consumers push up Moneysupermarket profits

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Comparison website operator Moneysupermarket has reported a 26 per cent jump in profits, boosted by consumers’ efforts to reduce their household bills.

The firm, which lets users compare the prices of credit cards, insurance, loans and utility bills, said adjusted underlying profits rose to £66.5 million in the year to December, up from £52.5m in 2011, on revenues 15 per cent higher at £204.8m.

Shareholders are in line for a final dividend of 3.94p per share on 26 April, an increase of 30 per cent over the previous year’s payout, giving a total for 2012 of 5.74p.

Chief executive Peter Plumb said: “The UK has caught the money-saving bug. We helped customers save over £1 billion in 2012 as households, faced with the uncertain outlook, sought savings on their bills.

“The 15 per cent rise in revenues, 26 per cent increase in profits and 30 per cent higher dividend to shareholders were only possible because of our continuing investment in the Moneysupermarket brand, in digital marketing and technology, and in making sure customers find us the best shop for comparing prices.”