Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Business
Lauren Phillips

MoneySupermarket giving £2,000 bonus to employees to help with cost of living as revenue grows by 19%

MoneySuperMarket is giving a one-off £2,000 payment to half its workforce in September to help with the cost of living crisis.

The price-comparison website, headquartered in Flintshire, will give the bonus to its employees that earn £55,000 and below to assist with rising costs.

The news follows the publication of the firm's interim results which saw its revenue grow by 19% in the six months ended 30 June 2022.

It's group revenue is now at £193.2m, up from £162.3m in 2021. Profit after tax was at £33.7m - a 20% increase from £28m in 2021.

The company, which had 10.8m active users in the 12 months to 30 June, said first half performance results were ahead of expectations.

Travel and travel insurance had a stronger return to growth than expected, recovering with revenue reaching almost 60% of pre-pandemic levels.

It also reported exceptional trading in Q2 in money which was driven by attractive banking products.

However, these branches were offset by the closure of the energy switching market as a result of high energy costs in the cost of living crisis.

MoneySuperMarket said it continues to expect the energy switching market to remain closed this year.

Chief executive Peter Duffy said: "As the cost-of-living crisis bites, we're doing all we can to help the British consumer. We've performed well with strong profit growth despite some mixed end markets. At the same time we're making strategic progress towards becoming a flexible tech-led savings platform, with all our core data now in Google Cloud Platform."

In insurance, the car and home market remained high following the introduction of the FCA General Insurance Pricing regulations earlier this year, which meant market switching volumes were lower.

Read more:

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.