Gocompare on track for 22 per cent leap in half-year earnings

Price comparison site Gocompare has said it is on track for a 22% leap in half-year earnings and hopes for further trading cheer as its overhaul bears fruit.

Tuesday, 11th July 2017, 10:07 am
Updated Tuesday, 18th July 2017, 8:41 am
The London City skyline. Gocompare has updated the City today. Photo: Chris Radburn/PA Wire

The Newport-based firm hailed “organisational and operational transformations” made at the start of the year after it was spun out of insurance giant esure last November.

Boss Matthew Crummack said trading had been boosted by the changes, with improvements set to ramp up over the rest of the year.

Gocompare, which allows customers to compare rates of insurance policies, financial products and energy tariffs, is expecting to post half-year underlying operating profits of around £17.5 million.

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It said sales rose 4% to around £75.8 million in the six months to June 30.

The group also announced its first strategic investment, with a minority stake bought in digital “robo-adviser” Mortgage Gym, which is set to launch in September.