Moneysupermarket on the rise after tough 2020

The price of shares in FTSE 250 financial comparisons marketplace Moneysupermarket (LON:MONY) has risen by 6.87% to 286.40p (as of 14:25 GMT) despite pre-tax profits contracting by 27% during the year ended 31st December. Revenues for the year were down by 11%, but the majority of the decline was in the travel sector and demand was heavily impacted by COVID.

CEO Peter Duffy commented: “We have again helped millions of UK households save on their bills, while providing indispensable financial advice throughout the COVID-19 pandemic.

The business is resilient, and our dividend reflects our confidence for the future.

Our job now is to encourage consumers to engage with us more and save on more of their bills. We will use our data better so consumers find our sites easier to use and are reminded when there are savings available to them“.