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Prices & Quotes - UK Markets - Moneysupermarket.com Group (MONY)

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Share Price:
Down 268.60p
Change Today:
-2.40p
Market Cap:
1,442.00m
Sector:
Software & Computer Services

Moneysupermarket FY profit drops as revenues dented by Covid-19

By Michele Maatouk

Date: Thursday 18 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Moneysupermarket reported a drop in full-year profit on Thursday as revenues, in particular in the travel segments, were hit by the Covid-19 pandemic.
In the year to the end of December 2020, pre-tax profit fell to 87.8m from 116m the year before, with revenue down 11% to 344.9m. The company said its performance reflected "exceptional" market conditions related to the pandemic.

Excluding travel channels, revenue was 4% lower on the year. Meanwhile, adjusted earnings before interest, tax, depreciation amortisation fell 24% due to lower revenue and a lower gross margin rate, mainly due to poorer conversion in the Money division.

The Money segment saw the heaviest drop in revenues, which fell 27% to 62.8m amid a fall in demand for credit products. Although the initial decline in demand soon reversed, the company said "significant" supply issues remained as providers tightened their lending criteria and consumers saw fewer attractive search results as a result.

"This impacted conversion and therefore reduced gross margin rate," it said.

Revenue in Home Services was stable at 68.8m, while revenue in Insurance fell 8% to 172.9m.

The group maintained its full-year year dividend at 11.71p, which it said reflected its confidence in longer-term growth prospects and "continued robust cash generation".

The company said its price comparison platform had 11.5m active customers in 2020 - a lower figure than usual, due mainly to the significant reduction in the normally high-volume travel insurance market.

Moneysupermarket said its end markets continue to be impacted by Covid restrictions and that the pace of lockdown measures being eased will be a major driver of its 2021 performance.

"The breadth of the consensus range for 2021 adjusted EBITDA (96.4m to 128.8m) reflects this. Reaching the upper end of the consensus range will require strong and rapid recovery in both Money and travel related channels," it said.

"If dynamics within Money were close to Q4 2020 levels and travel restrictions stay in place, adjusted EBITDA will likely be towards the lower end of the consensus range. Given the likely shape of the trading recovery, as well as the good 2020 Q1 performance, we expect revenue and profit performance to be firmly weighted to the second half."

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MONY Market Data

Currency UK Pounds
Price 268.60p
Change Today -2.40p
52 Week High 348.80p
52 Week Low 237.20p
Volume 837,506
Shares Issued 536.86m
Market Cap 1,442.00m
Beta 0.01

Performance Indicators

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What The Brokers Say

Strong Buy 8
Buy 0
Neutral 5
Sell 0
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MONY Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Apr-21 06-Aug-20
Paid 20-May-21 11-Sep-20
Amount 8.61p 3.10p

Trades for 13-May-2021

Time Volume / Share Price
16:35 194,068 @ 268.60p
16:29 60 @ 268.40p
16:29 1,058 @ 268.80p
16:29 330 @ 268.60p
16:29 183 @ 268.80p

MONY Key Personnel

Chair Robin Freestone
CFO Scilla Grimble
CEO Peter Duffy