Moneysupermarket.Com suspends financial guidance for 2020

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Moneysupermarket Group has suspended its financial guidance for the year 2020.

In a trading statement released today Moneysupermarket.Com Group (MONY) said it is still too early to determine the full impact of the rapidly changing situation due to the evolving nature of the pandemic and the associated uncertainty and lack of visibility. However, the group has reiterated its plans to pay its final 2019 dividend of 8.61p per share.

“We are suspending all financial guidance for the financial year 2020.”

The group said revenues rose 2% to 107.3m in the three months to 31 March, led by an 8% jump in insurance sales to 51.9m.

Other revenue streams recorded a drop in revenues, however, with money and home services off 3% and 1% respectively. TravelSupermarket also saw trading weaken “significantly” from mid-February because of Covid-19.

Mark Lewis, CEO of Moneysupermarket Group, said: “Having fully moved to remote working to support the health and safety of the team, we remain as committed as ever to help our customers through this crisis.”