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Flintshire firm Moneysupermarket.com reveals 300% rise in post-tax profits

AN ONLINE comparison website has enjoyed a 300% rise in post-tax profits.

Moneysupermarket.com, based in Ewloe, saw a jump to £7.7m in 2010.

The company said it said was driven by investment in its product and brand.

The firm, which will sponsor Britain’s Got Talent this year, saw revenue rise by 9% to £148.9m.

And chief executive Peter Plumb predicted the growth would continue.

He said: “We have the right strategy and a clear programme of continued investment for our technology and brand.

“Our business is well placed to continue to benefit from consumers’ growing use of price comparison sites, in a time when there has never been a bigger need to watch the pennies.”

The company had mixed fortune across its business divisions.

The money sector saw revenues rise by 15% but visitor numbers fall by 10%. In its insurance sector revenue rose by 12% while visitor numbers rose by 6%.

In travel, revenue fell by 14% and visitors fell by 12%. And in home services, revenue rose by 12% and visitors grew by 32%.

In February Moneysupermarket.com said prospects for savers were looking up and revealed the average of the top five cash ISA rates at 2.83% is 11% up on this time last year’s at 4.01% on minimum £1 deposits.