Moneysupermarket.com drops after first half update

Shares in FTSE 250 online price comparison firm Moneysupermarket.com have fallen by 3.46% to 388p (as of 12:00 BST) despite posting an 18% rise in profits for the half year ended 30th June. Management said that they were confident in meeting their full year guidance.

CEO Mark Lewis commented: “We grew the business strongly in the first half, already helping households save over £1bn this year, particularly after the energy price cap came in and then went up. Millions of people faced rising energy bills and we helped many of them to find a better deal, saving them hundreds of pounds in just a few minutes on our sites.

“Our Reinvent strategy continues to make it easier and quicker to save and is now supported by the new MoneySuperMarket branding, which encourages people to ‘Get Money Calm’ by using our site to pay less across a broad range of bills“.

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