Gocompare.com Group plc announced unaudited consolidated earnings results for the six months ended June 30, 2018. For the period, the company reported revenue was £75.8 million against £75.8 million a year ago. Operating profit was £17.3 million against £15.8 million a year ago. Profit before income tax was £15.9 million against £14.7 million a year ago. Adjusted operating profit was £21.0 million against £17.5 million a year ago. Profit for the period was £12.9 million against £11.9 million a year ago. Diluted earnings per share were 3.0 pence against 2.7 pence a year ago. Net cash generated from operating activities was £17.8 million against £7.7 million a year ago. Purchase of property, plant and equipment was £0.3 million against £0.6 million a year ago. Purchase of intangible assets was £3.3 million against £0.2 million a year ago. Adjusted earnings per share were 3.8 pence against 3.2 pence a year ago. Adjusted EBITDA was £21.9 million against £18.1 million a year ago. Negative net debt was £73.8 million. Total revenue was flat as compared to first half of 2017 with the price comparison revenue of GBP 72.1 million, down 5%, and MyVoucherCodes delivering revenue of GBP 3.7 million for the 5.5 months they have owned the business. The decline in revenue on price comparison reflects the decisions that they have made. Adjusted EPS up 19% as compared to the same period a year ago, which is marginally lower than the growth in operating profit, reflecting the impact of the additional interest costs on the increased debt following the MVC acquisition.

The company provided earnings guidance for the second half and revenue guidance for the full year of 2018. The company expects that as they go into the second half of the year, to see a similar level of CapEx spend. The company expects revenue in the second half of the year to be stronger than the first half.

For the year, the company expects revenues is like a 14% growth.