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Moneysupermarket.com Q1 Revenues Up 19%; To Pay Special Dividend In May

Moneysupermarket.com Group PLC (MONY.L) on Thursday reported first-quarter revenues of 104.9 million pounds, an increase of 19 percent from 88.3 million pounds in the prior-year quarter. Revenue growth was 12 percent, excluding Decision Technologies.

The company noted that motor insurance benefited from improved conversion, but was partially offset by subdued trading in life insurance as competitors spent more on their customer incentives.

Positive momentum in Money continued, albeit lapping a weak quarter in the prior-year period.

Mark Lewis, CEO of Moneysupermarket.com Group, said, "The reinvent strategy continues with a strong first quarter of trading, notably helping a record number of customers beat the rising energy price cap."

Looking ahead to fiscal 2019, the Board of Moneysupermarket.com Group said it remains confident of meeting current market expectations. While performance of Home Services was exceptional in the first quarter, the company expects this to moderate through the year.

In mid-February, Moneysupermarket.com's announced a proposed 40 million pounds enhanced distribution and related shareholder consultation. The company's board confirmed today that this will be made by way of a special dividend.

The special dividend of 7.46 pence per share will be paid on 21 May 2019 to shareholders on the register on 3 May 2019. Shares will trade ex-dividend from 2 May 2019.

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