Business
Interim Results for the six months ended 30 June
Interim Results for the six months ended 30 June.
About this update from Mony Group Plc
[{"type":"text","content":"\n\n 22 July 2024\nMONY Group plc\nInterim results for the six months ended 30 June 2024\n \nGood trading and strategic achievements with the best ever H1 revenue and EBITDA\n \n \n\n\n\n\n6 months ended 30 June\n\n\n2024\n\n\n2023\n\n\nGrowth\n\n\n\n\nGroup revenue\n\n\n£223.5m\n\n\n£213.8m\n\n\n5%\n\n\n\n\nEBITDA *\n\n\n£73.0m\n\n\n£67.7m\n\n\n8%\n\n\n\n\nProfit after tax\n\n\n £44.1m\n\n\n£41.0m\n\n\n8%\n\n\n\n\nAdjusted basic EPS **\n\n\n8.8p\n\n\n8.3p\n\n\n6%\n\n\n\n\nBasic EPS\n\n\n8.3p\n\n\n7.6p\n\n\n9%\n\n\n\n\nOperating cashflow\n\n\n£51.8m\n\n\n£41.1m\n\n\n26%\n\n\n\n\nNet debt ***\n\n\n£25.1m\n\n\n£54.4m\n\n\n(54)%\n\n\n\n\nInterim dividend per share\n\n\n3.3p\n\n\n3.2p\n\n\n3%\n\n\n\n\n \n \nTrading performance\n· Revenue up 5%, supported by strong performance in Insurance and Cashback. Gross margin maintained at 68% and EBITDA up 8% to £73m\n· Increase in operating costs kept to 2%, as a result of work completed so far in building out our platform and delivering marketing efficiencies, in line with our strategy\n· Strong cash conversion - £51.8m of operating cashflow during the period\n· Dividend up 3% to 3.3p\n \nStrategic achievements\n· Growth across our member-based customer propositions with positive early indicators\n· Milestone 500k members passed in MoneySuperMarket SuperSaveClub (300k in April 2024)\n· MoneySavingExpert App named a top 10 UK news app, with 1.4m downloads\n· Good member growth momentum in Quidco\n· Provider offering enhanced with new providers now able to launch simultaneously across our brands and B2B partners as a result of our single platform\n· 37 B2B partners onboarded across car and home insurance, broadband, mobile and energy\n \n \nPeter Duffy, CEO of MONY Group, said:\n\"We've made good progress in the first half of the year reaching a best ever H1 revenue and EBITDA. Ours is a business that only makes money if customers save money and in the first half of 2024, we saved cu...