Business
Interim Results to 30 June 2023
Interim Results to 30 June 2023.
About this update from Mony Group Plc
[{"type":"text","content":"\n\n 24 July 2023\nMoneysupermarket.com Group PLC interim results for the six months ended 30 June 2023\n \nStrong brands and technology platforms drive good trading in mixed markets\n \n\n\n\n6 months ended 30 June\n\n\n2023\n\n\n2022\n\n\nGrowth %\n\n\n\n\nGroup revenue\n\n\n£213.8m\n\n\n£193.2m\n\n\n11\n\n\n\n\nAdjusted EBITDA *\n\n\n£67.7m\n\n\n£56.6m\n\n\n20\n\n\n\n\nProfit after tax\n\n\n£41.0m\n\n\n£33.7m\n\n\n22\n\n\n\n\nAdjusted basic EPS **\n\n\n8.3p\n\n\n7.0p\n\n\n19\n\n\n\n\nBasic EPS\n\n\n7.6p\n\n\n6.1p\n\n\n25\n\n\n\n\nOperating cashflow\n\n\n£41.1m\n\n\n£45.9m\n\n\n(10)\n\n\n\n\nNet debt ***\n\n\n£54.4m\n\n\n£69.1m\n\n\n(21)\n\n\n\n\nInterim dividend\n\n\n3.2p\n\n\n3.1p\n\n\n3\n\n\n\n \n \nGood trading performance\n· Revenue up 11%, gross margin maintained at 68%; and adjusted EBITDA up 20%. \n- Insurance up 23% led by car, winning share in a growing market rebounding from FCA General Insurance Pricing regulations.\n- Travel continued strong recovery in Insurance and Ice Travel Group.\n- Headwinds from interest rates hit loans and mortgage conversion; cost of living impacted broadband.\n· Ready for energy switching return - historically a market leader. No significant return expected in 2023.\n· Cost discipline in face of inflation - rise in operating costs kept to 3%.\n· Strong cash conversion - £41.1m of operating cashflow during the period.\n· Returned to dividend growth - 3% increase to 3.2p, reflecting our strategic progress, confidence in growth prospects and continued good cash generation.\n \nContinued strategic progress\n· Development of data capabilities, common technology and scalable platforms has laid foundation to start to enhance customer retention and cross-selling:\n- Starting roll out of proprietary 'Dialogue' platform to improve speed of enquiry across products.\n- Trialling a MoneySuperMarket cash rewards and loyalty club: 'SuperSaveClub'.\n- Adding \"MSE ChatGPT\" and testing personalised notifications on the MoneySavingExpert App.\n· Leading platforms for Pay Per Click...