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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
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Go to Proactive UK

Retail

Insurance saves MoneySuperMarket from deeper quarterly losses

MONY Group, aka MoneySuperMarket.com, reported a 2% decline in revenue for the third quarter of 2024, with total sales coming to £112.9 million.

The company's insurance division posted a modest growth of 1% to £62.7 million, helping to stave off a more significant year-on-year loss.

While insurance provided a cushion, other areas of the business faced challenges.

The money segment, which includes credit card and current account switching, dropped by 4%, largely due to limited attractive offers.

Home services and travel saw declines of 8% and 15%, respectively, attributed to soft demand and lower conversions in car hire.

Cashback performed well, growing 2% on the back of continued membership expansion, now reaching over 750,000 members.

Peter Duffy, chief executive of MONY Group, stated: "We delivered a solid financial performance in the quarter, in line with our expectations, while lapping a strong performance last year.”

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