Moneysupermarket Q3 revenue rises as insurance business does well

Price comparison website Moneysupermarket.com reported a jump in revenue for the third quarter and said it was “on track for another record year”.

In the three months to 30 September, revenue was up 6% to £90.2m, as revenue from the insurance business rose 11% to £47.2m, with a continued strong performance from insurance switching.

However, revenue in the money and home services divisions fell 2% and 1%, respectively, to £19.2m and £13.8m.

Revenue from MoneySavingExpert was up 18% to £10.8m while revenue from TravelSupermarket dropped 1% to £6.8m.

Chief executive officer Mark Lewis said: “We are on track for another record year because we are helping more people save more money across their household bills: from insurance and credit cards to holidays, broadband and energy.

"We're particularly encouraged by the continued growth of insurance, and momentum in energy switching, as families look to find better deals.

"Our message to customers is clear - don't kid yourself that the energy price cap will be the answer, if you haven't switched recently you can quickly and easily save £250 today, by switching to a competitive fixed rate!"

At 0815 BST, the shares were up 0.3% to 319.30p.