Price comparison website increases turnover by 83% and PBT by 98% to year end March 2011
London, 24 August 2011 – Consumerchoices.co.uk, a leading provider of price comparison sites and services, today announces that it has nearly doubled profit before tax (98%) in the financial year ending 31 March 2011. The company, which has been profitable since its inception in 2005, also saw turnover rise by 83% over the same period.
In the past year, Consumerchoices.co.uk’s growth has cemented its position as the fastest growing comparison site in its sector. The company’s continuous product development, innovative use of proprietary technology and the development of the UK’s largest home communications services partner network has resulted in the business being shortlisted for two National Business Awards – ‘Small Online Business of the Year’ and ‘The BlackBerry Growth Strategy of the Year’.
Highlights in the financial year to 31 March 2011 include:
•EBITDA in excess of £2m;
•Website visitors up 69% to over 1.3 million a month;
•Securing Ofcom accreditation for the UK’s largest home phone comparison service, Homephonechoices.co.uk; and
•Extending its partner network to over 40 brands, including Confused.com and GoCompare.com.
Michael Phillips, CEO Consumerchoices.co.uk comments: “We are delighted with the company’s performance over the past six years, especially the most recent, where we have made significant gains in the number of visitors to the site, top and bottom line financial growth, and advances in our proprietary technology platform. The start to the current financial year has been very strong and we are now focusing our attention on expanding our services to customers and partners both here in the UK and in mainland Europe.”
Jon Ingram, COO Consumerchoices.co.uk adds: “As a company we are proud of our continued success within the broadband, home phone, and digital TV comparison sectors. We’re investing heavily in staff and technology so we can maintain our growth profile through the development of ground breaking new products and services, as well as breaking into new markets and territories. Our latest set of results puts us in an excellent position to deliver on this strategy.”
