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Moneysupermarket statement
Moneysupermarket.com’s management statement released today revealed some signs of recovery with revenues 15% better than the average rate in the first half of the year. However this is against a very weak comparator: revenues in the first half were more than 30% lower than the same period last year. Revenues are down 15% against the third quarter of last year.
In the short to medium term, Moneysupermarket.com should see a bounce in sales as the economy recovers (assuming that the economy does recover, as seems probable).
In the long term it is a business that lacks strong barriers to entry. There are many price comparison sites out there, including many in Moneysupermarket’s core businesses or insurance, investment and travel, in addition there is the constant danger of more competition. The biggest single danger is that Google will develop its product search and its ad business — it recently launched a comparison ad format.
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