Gocompare.com revenues up 19%

Price comparison site Gocompare.com Group reports good progress in 2016 with revenue of approximately £142.0m, which is 19% up on 2015 and in line with guidance.

Adjusted operating profit is expected to be approximately £30m, which represents growth of 30% over 2015 and is at the top end of the guidance provided at the time of the publication of the demerger prospectus in October 2016.

It says cash generation has also been strong with leverage reducing from 2.8x at the time of the demerger to less than 2.0x at the year end. Chief executive Matthew Crummack said: "2016 has been a transformational year for Gocompare.com. We completed the demerger of Gocompare.com from esure Group plc and strengthened the team at the executive level. Furthermore, today's announcement highlights that the Group continues to deliver good trading results. We start 2017 from a position of confidence and look forward to delivering another year of strong growth."