Moneysupermarket gains on weather

Price comparison service Moneysupermarket

Price comparison service Moneysupermarket.com said today poor weather had boosted profits as internet activity increased, while the Northern Rock crisis had fuelled a further rise in the past week.

The group, which listed on the stock market in July, added the recent weakening in credit markets had not impacted on the business, reporting a 63 per cent rise in revenue to £78.5 million (€113m) for the first half of the year.

Moneysupermarket allows consumers to compare prices on products including credit cards, broadband, mortgages, vehicle breakdown cover and package holidays. Chief executive Simon Nixon said website traffic had more than doubled on its savings site since the start of the crisis involving Northern Rock.

"We have seen a lot of activity on the site in the last week or so. Mortgages are 50 per cent up on the norm, savings are up over 100 per cent, and loans 30 per cent," he said

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The third quarter of its financial year had started strongly, with the wet weather again helping to drive revenues.