The parent company of Flintshire-based price comparison firm Moneysupermarket has announced a £30m share buyback programme.
It comes as Mony Group reported record revenues of £439.2m for its 2024 financial year, driven by the performance of the group’s insurance offering. Revenues were up 2% on the previous year. Overall, group profit after tax rose 11% to £80.2m from £72.3m recorded for 2023.
The Moneysupermarket owner also reported its “highest ever” adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA), which were up 7% to £141.8m. Its operating cash flow was up 13%t to £115.6m.
During year it estimated to have helped households save £2.9bn - another record level.
The board proposed a final dividend per share of 9.2p, bringing the total dividend for the financial year of 2024 to 12.5p, up three per cent.
Mony announced in its results a share buyback programme of up to £30m, reflecting the group’s “strong cash generation and robust financial position”.
Looking at 2025, the group believes its recent trading performance and strategic execution give it confidence that it will deliver adjusted EBITDA for 2025 “broadly within our current published consensus.”
The Moneysupermarket owner stated it remains “well positioned to continue to deliver sustainable, profitable growth.”
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Commenting on the results, Peter Duffy, chief execuive of Mony Group, said: “We are proud to have helped customers save a record £2.9bn – the more customers save, the more the group grows.”
“We’ve done this by delivering strong performance both operationally and financially in 2024 as we continue to execute on our strategy.”
“This sustained momentum has enabled us to grow the dividend by three per cent this year, alongside the announcement of a share buyback programme of up to £30m, which will deliver enhanced returns to shareholders,” he added.