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Investing.com -- Mony Group, previously known as Moneysupermarket.com, has announced a share buyback of up to £30 million ($37.8 million) on Monday following a rise in its pretax profit for the year 2024.
The price-comparison website reported an increase in pretax profit to £108.7 million for the year, up from £92.1 million in 2023.
The company's adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) also saw an increase, climbing 7% to £141.8 million.
This rise was reflected in the adjusted Ebitda margin, which increased by 1 percentage point to 32%, a result of continued strong cost management, according to Mony Group.
Revenue for the company also saw an increase, rising to £439.2 million from £432.1 million. This growth was primarily driven by good performance in its insurance segment, particularly in the first half of the year, as well as growth in Cashback.
Mony Group's board declared a final dividend of 9.2 pence a share, an increase from 8.9 pence in 2023. This brings the full-year dividend to 12.5 pence a share.
Looking forward, Mony Group anticipates delivering an adjusted Ebitda that is broadly in line with the consensus of £147.0 million, in a range of £143.1 million to £151.7 million.
The company also expects that operating cost inflation, excluding depreciation and amortization, will be largely mitigated through its cost efficiency.
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