Moneysupermarket.com (LSE:MONY) said first quarter revenues increased 8% despite "intense" competition and expects full-year earnings to rise to 2020 levels as consumers battle to save money in the face of the cost-of-living crisis.
The on-line comparison site told investors its travel division recorded its best quarter in two years as Coronavirus (COVID-19) travel restrictions lifted.
Revenue at its money operations jumped 37%, led by a recovery in borrowing but home services slumped 65%, with no energy revenue.
"In the quarter there were signs of higher retention rates at insurers meaning less switching," the group said in a trading update. "Competition for search traffic was intense.
"The factors affecting our markets are unchanged from those outlined in our preliminary results in February. The board continues to expect full-year EBITDA to increase to around 2020 levels, with profit weighted to the second half."
In the quarter ended March 31, revenue in the home services section was £9.1mln compared to £26.0mln in the prior year.
Travel posted the biggest growth at 796% with revenues of £3.2mln compared to £0.4mln previously.
"We are pleased with the strong recovery in Money and Travel, and continue to execute well against our strategy. With cost-of-living increases adding pressure to consumer budgets, our distinctive brands remain well positioned to help households save money in a broad range of areas," said Peter Duffy, chief executive.
Shares in the company were up 4.05% at 180.00p in early morning trades.