Business
AGM Trading Statement
AGM Trading Statement.
About this update from Mony Group Plc
[{"type":"text","content":"\n\n8 May 2025\nAGM Statement\n \n \nLeveraging the strength in breadth of the Group, delivering on our strategy\n \nAGM update\n \nIn advance of its Annual General Meeting today, MONY Group plc provides the following update on trading for the period from 1 January 2025 to 30 April 2025.\n \nManagement expectations for the full year remain unchanged.\n \nTrading update\n \nMONY Group has delivered a modest increase in revenue relative to an exceptionally strong comparative period in 2024. This has been achieved through leveraging the strength in breadth of the GroupÕs established portfolio of products and brands.\n \nInsurance delivered a good performance in home, life and travel, in large part offsetting the continued headwinds in the car insurance switching market.\n \nMoney has seen continued momentum in borrowing from H2 2024 contributing to modest growth, despite fewer attractive banking promotions.\n \nHome Services has achieved strong growth Ð in energy an increasing number of providers offered promotional deals in advance of the April price cap, and in broadband we have added more providers to our platform.\n \nTravel remains stable despite the challenging economic conditions and uncertainty currently impacting the UK consumer, though this has impacted Cashback.\n \nStrategic update\n \nOur strategy is centred on growing our two-sided marketplace, focused on both customers and providers. Continued momentum in our member-based propositions is transforming our customer base from transactional users into long-term members who come to us directly, and we are delighted to have delivered strong growth in SuperSaveClub (SSC) which now has over 1.3 million members.\n \nIn line with our established capital allocation policy, we launched a share buyback programme of up to £30 million on 17 February 2025. The programme, funded by expected free cash flow, is progressing well with over £8 million repurchased to date, and is on target to conclude in late 2025.\n \nOutlook\n \nWe remain well positioned to deliver sustainable, profitable growth. Our trading performance in the first four months of the year coupled with continued momentum in the execution of our strategy underpins the BoardÕs continued confidence that Adjusted EBITDA for the year will be in li...