MoneySupermarket reports 20% increase in offline marketing spend as group revenues increase 8%
MoneySuperMarket has reported an eight per cent increase in group revenue ahead of Q1 of 2013, although visitor volume to the website fell by ten per cent.
The company reported that offline marketing costs were in the region of 20 per cent ahead of the same period last year supporting new MoneySuperMarket and TravelSuperMarket advertising campaigns.
The insurance sector of the group continued to be impacted by lower natural search positions in certain Google search terms reducing visitor volumes and revenues, while travel revenues were 41 per cent ahead of the first quarter of 2013 on visitor volumes that increased by 19 per cent.
Last month, MoneySuperMarket unveiled preliminary yearly results showing revenue of £225.6m.
Peter Plumb, chief executive of MoneySuperMarket.com, said: "Helped by our increasingly diversified business, this was a good first quarter given the headwinds we've faced since last year. Our investment programme is on track, including the delivery later this year of the best shopping experience for insurance customers, on mobile or desktop. The investment we are making in technology for the Money business is beginning to work well.
I look forward to making it even easier for our customers to save more money, thanks to the £14 million we're spending on our capital investment programme this year."
The company is ‘confident’ on the outlook for Q2, finding that the first few weeks of trading in the second quarter are flat with last year and trading trends largely in line with the first quarter of 2014.