Nixon gets £14m windfall from Moneysupermarket
Wednesday 03 August 2011
The founder of financial comparison website Moneysupermarket.com Simon Nixon is £14m wealthier today after the firm – which he stopped running in 2008 but still owns a majority stake – paid out a special £20m dividend to shareholders on top of its interim dividend.
The 3.93p per share handout was possible because of double digit growth in revenue and profits, according to chief executive officer Peter Plumb. "We have had a great six months," he said. "We have seen strong trading momentum through the period." The interim dividend increased by 15 per cent to 1.5p per share.
The website invested heavily in technology and marketing in the six months to 30 June. It spent £2.7m improving technology and £5.2m in offline marketing, such as sponsoring the TVreality show Britain's Got Talent, toposition itself as a mainstream brand.
It also scrapped its TV ad campaign which featured comedian Omid Djalili and replaced it with a more downmarket approach to rival the popularity of Go Compare's opera-singing star and Compare The Market's meerkats.
Sales over the period climbed 24 per cent to £88.7m with profit after tax climbing from £2m in the first six months of 2010 to £8.8m. Mr Plumb said he was confident about future prospects for price comparison sites. "More and more consumers are going online to find the best deals," he said.
The number of visitors to Moneysupermarket's personal finance site increased 4 per cent in the six months to the end of June and the number of transactions – measured by completion of application forms for products or movement from the site to partners' sites – climbed by 43 per cent. July's trading was also positive with revenue 15 per cent ahead of last year, the company said.
- 2 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to join show
- 3 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
- 4 University student in court for allegedly covering housemates' food in window cleaner and spit
Italian police 'reveal' what Jesus looked like as a young boy
Mysterious 'X-Files' sounds heard miles above the Earth
University student in court for allegedly covering housemates' food in window cleaner and spit
Garland shooting: Isis claims attack on Prophet Mohamed cartoon contest in Texas as its first action on US soil
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian combined with near-naked ensemble
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...