LONDON (dpa-AFX) - MONY Group plc (MONY.L), on Thursday, issued an update on its trading performance for the period from January 1, 2025, to April 30, 2025, and said management expectations for the full year remain unchanged.
The company has reported a modest increase in revenue compared to the exceptionally strong comparative period in 2024. This growth has been achieved by leveraging the strength and breadth of its established portfolio of products and brands.
The insurance segment has performed well, with strong results in home, life, and travel insurance, which have largely offset the ongoing challenges in the car insurance switching market. Meanwhile, the money segment has maintained momentum in borrowing since the second half of 2024, contributing to modest growth despite fewer attractive banking promotions.
Home services have experienced significant growth, particularly in the energy sector, where an increasing number of providers offered promotional deals ahead of the April price cap. Additionally, the broadband segment has expanded with the inclusion of more providers on MONY Group's platform. Travel has remained stable despite challenging economic conditions and consumer uncertainty in the UK, though these factors have had an impact on cashback offerings.
Strategically, MONY Group continues to focus on growing its two-sided marketplace, catering to both customers and providers. The company has seen continued momentum in its member-based propositions, which are transforming its customer base from transactional users into long-term members who engage directly with the platform. A key highlight of this strategy is the strong growth of the SuperSaveClub or SSC, which now boasts over 1.3 million members.
In line with its capital allocation policy, MONY Group launched a share buyback program of up to £30 million on February 17, 2025. Funded by expected free cash flow, the program is progressing well, with over £8 million repurchased to date, and is on track to conclude by late 2025.
Looking ahead, MONY Group stated that it remains well-positioned to deliver sustainable and profitable growth. The company's trading performance in the first four months of the year, combined with continued momentum in executing its strategy, reinforces the Board's confidence that Adjusted EBITDA for the year will align with current market expectations.
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