Consumerchoices.co.uk reports 2010 profit after tax up 230% on 2009
Group grows revenue twenty-fold over five years
London, 13 December 2010 – Consumerchoices.co.uk a leading provider of comparison sites and services, today announces that in the financial year ending 31 March 2010 it increased turnover 56% to £4.5m (2009: £2.9m) while profit after tax (PAT) increased 230% over the same period, according to its recently audited accounts. Consumerchoices.co.uk– which has been profitable since inception – has now grown turnover twenty-fold since 2006.
The recent Global Business Excellence and Young Guns award-winning performance has come as a result of continued innovation, increase in market share and additional partner wins. Highlights in the financial year to March 31 include:
– Growing traffic to 800k visitors a month;
– Securing Ofcom accreditation for its Homephonechoices.co.uk comparison calculator; and
– Extending its partner network to over 26 sites which includes GoCompare.com; Comparethemarket.com and Confused.com.
Michael Phillips, CEO, Consumerchoices.co.uk comments: “We’re delighted with the company’s performance over the past 5 years, especially our year ending this March. In the first half of the current financial year we’ve maintained that momentum: passing the 1m mark in monthly visitors and signing 13 more partners. EBITDA is up 130% on the same period last year. Our pride in our past performance is matched by our confidence in our future growth – by year-end March 2011, we’re on target to turnover £7.5m.”
Jon Ingram, Chief Operating Officer, Consumerchoices.co.uk adds: “The broadband, home phone and digital TV comparison sector has proven recession resilient and service providers are offering customers great value and the depth and quality of product offering is increasing at a fantastic rate. The home communications market has provided us with a fertile industry landscape in which to grow”