Shares of Moneysupermarket.com Group Plc (MONY.L) climbed about 11 percent Friday morning as the company expects full-year 2012 adjusted revenues to increase about 15 percent from last year and adjusted earnings before interest, tax, depreciation and amortization, or EBITDA to be up around 26 percent. In the fourth quarter, revenue growth was nearly 18 percent ahead of the prior year.
In a trading statement, the provider of price comparison services said it sees adjusted revenues for the full year to be 204.5 million pounds, higher than 178.5 million pounds in the previous year. Adjusted EBITDA is expected to be around 66 million pounds, up from last year’s 52.6 million pounds.
According to the firm, acquisition of MoneySavingExpert.com, which was completed on September 21, 2012, contributed about 1.8 million pounds of revenues from providers other than MoneySupermarket.com and 2.8 million pounds of adjusted EBITDA to the Group in 2012.
Revenues generated by MoneySupermarket.com division from traffic generated by MoneySavingExpert.com have been included within MoneySupermarket.com revenues, the company stated.
MoneySavingExpert is UK’s personal finance and personal finance journalism websites, with reported revenues of 15.773 million pounds and EBITDA of 12.64 million pounds in the year ended October 31, 2011.
Moneysupermarket.com said it experienced lower demand for comparison of savings products in the fourth quarter in the Money vertical, offset by improving trading in Insurance, Home Services and Travel. Revenue in savings was impacted by lower competition among banks for retail deposits.
In addition, the company said it has written down its investment in Financial Services Net Ltd., acquired in October 2010. As a result, the Group will recognize an impairment charge of around 4.2 million pounds in its financial statements, which has not been included in calculating the current adjusted EBITDA for the year.
The company is scheduled to announce its full-year results on March 5.
MONY.L is currently trading at 175 pence, up 16.70 pence or 10.55 percent, on the LSE.
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by RTT Staff Writer
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