Finance
UK price comparison platform MONY posts bigger profit on cost controls
Published by Global Banking & Finance Review®
Posted on February 17, 2025
2 min readLast updated: January 26, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 17, 2025
2 min readLast updated: January 26, 2026
MONY Group's profit rose due to cost management, exceeding expectations. Revenue increased by 2%, driven by insurance services, while operating costs fell by 9%.
(Reuters) - British price comparison platform MONY Group posted a slightly bigger-than-expected full-year core profit on Mondayas it reduced its expenses, sending the company's shares up more than 5%.
MONY, which also lists money, travel, home services and cashback offers on its websites, said its adjusted core profit rose 7% to 141.8 million pounds ($178.50 million) in 2024.
That beat analysts' average estimate of 139.5 million pounds, according to a company-compiled consensus.
The group's revenue grew 2% to 439.2 million pounds, driven by its largest division, insurance services, as customers sought better car and home insurance deals.
The high cost of living and elevated inflation in Britain have driven consumers to hunt for bargains, especially for larger spends like insurance and home services, as they also tighten spending on non-essential items.
MONY's revenue, however, fell short of analysts' expectations of 441 million pounds.
It was a 9% drop in operating costs to 177.3 million pounds, in part due to lower television advertising and higher use of automation, that helped the company's profit top estimates.
"Whilst revenue was a touch light, the small beat at the EBITDA level is encouraging, with the group flagging prudent cost management," RBC Capital Markets analysts said in a note.
MONY also commenced a share buyback programme of up to 30 million pounds, which also helped its shares jump 5.3% to be among the top gainers on London's mid-cap index.
The company said it expects this year's adjusted core profit to be broadly within analysts' expectations of 143.1 million pounds to 151.7 million pounds.
Analysts at Peel Hunt said in a note that they expect 2025 earnings to benefit by about 2% from the shares buyback. ($1 = 0.7944 pounds)
(Reporting by Simone Lobo in Bengaluru; Editing by Savio D'Souza)
The article discusses MONY Group's increased profit due to cost controls and its impact on share prices.
MONY Group increased its profit by reducing operating costs, particularly in advertising, and implementing automation.
UK inflation led consumers to seek better deals on insurance and home services, boosting MONY's revenue.
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