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Investing.com -- Mony Group plc (LON:MONY) on Monday reported a 4% rise in adjusted basic earnings per share to 9.3p for the six months ended June 30, up from 8.9p a year earlier.
The British company raised its interim dividend by 1% to 3.3p per share and maintained its full-year adjusted EBITDA guidance within its published range of £137 million to £150 million.
Group revenue increased 1% to £225.3 million, while adjusted EBITDA rose 2% to £75.1 million. Profit after tax rose to £45.6 million from £44.1 million. Basic earnings per share were 8.6p, up from 8.3p.
Gross profit declined 3% to £147.7 million and gross margin narrowed to 66%, reflecting a contraction in the car insurance segment, the launch of first purchase rewards, and growth in lower-margin B2B activity.
Operating costs fell 6% to £86.5 million, with administrative expenses down 7% and distribution expenses 1% lower.
Insurance revenue declined 2% to £117.7 million. RBC stated, “Within insurance, Car was -9%, with Home +4%, with life and travel also performing well.” Money revenue increased 4% to £52.8 million.
RBC noted, “In Money, the group flagged strong borrowing activity, whilst robust savings offset lower current account switching.” Home services rose 29% to £21.6 million.
According to RBC, “In Home Services, the group flagged the gradual recovery in the energy market.” Travel was down 2% at £11.4 million, and cashback declined 9% to £27.2 million.
Adjusted EBITDA margins declined in insurance to 56% from 60%, in money to 65% from 69%, and in travel to 17% from 22%. Margins improved in home services to 67% from 64% and in cashback to 15% from 13%.
Estimated customer savings fell to £1.4 billion from £1.7 billion, reflecting lower switching volumes. The marketing margin decreased to 57% from 60%.
Active users across MoneySuperMarket and Quidco declined to 13 million from 14.3 million. Revenue per user rose to £19.83 from £18.24. Cross-channel enquiry fell to 22% from 24%.
Operating cash flow declined 16% to £43.7 million. Net debt was £18.4 million, compared with net cash of £8.4 million at year-end, reflecting £28.7 million in cash and £45 million in borrowings.
Capital expenditures totaled £5.1 million. Share repurchases amounted to £13.3 million.
Total (EPA:TTEF) shareholder returns for 2025 are projected at £96 million. The interim dividend is payable Sept. 8 to shareholders on record as of Aug. 1.
The company recorded a £2.2 million provision for irrecoverable VAT due to ongoing discussions with HMRC. The effective tax rate was 23.7%, compared with 24% a year earlier.