Mony Group H1 Earnings Call Highlights

Mony Group (LON:MONY) reported higher first-half revenue and adjusted earnings for 2026, as Chief Executive Officer Peter Duffy said the company benefited from the breadth of its brands, products and markets while U.K. households continued to face financial pressure.

Duffy said the group helped consumers save an estimated GBP 1.5 billion during the first half. On a like-for-like basis, revenue rose 6% to GBP 227 million, while adjusted EBITDA increased 3% to GBP 76 million. Adjusted basic earnings per share grew 5% to GBP 0.097.

The company said it plans to return more than GBP 90 million to shareholders in 2026 through its progressive dividend and an ongoing GBP 25 million share buyback. Chief Financial Officer Niall McBride said the interim dividend was increased by 1%, and that more than GBP 19 million of the buyback had been completed to date.

Insurance, money and home services drive growth

McBride said the company’s performance reflected resilience across a mixed market. He excluded the travel segment from his discussion of group revenue, costs and EBITDA on a like-for-like basis, noting that Mony moved to a minority stake in ICE Travel Group last year.

Insurance revenue rose 4% to GBP 122 million, improving from a 2% decline reported at the 2025 half year. McBride said car Insurance headwinds continued to ease, with average premiums down 5% year over year, compared with a 9% decline in the previous half. He cited AI-enabled journey enhancements, including Price Optimiser, which he said has helped more than 200,000 customers save an additional GBP 25 on average.

Home insurance followed a similar pattern, with premium declines moderating to 3% year over year from 6% in the previous half. McBride also pointed to newer revenue streams, including MSE Travel Compare Plus and B2B partnerships with Which? and Blue Light Card.

The Money segment delivered revenue of GBP 58 million, up 9% year over year. McBride said banking led the growth, with current accounts performing well, supported by provider partnerships and market-leading deals. In borrowing, loans growth was helped by increased customer relationship management activity and AI-enabled enhancements such as personalized pre-approval information.

Home Services revenue increased 30% to GBP 28 million, with energy the main driver. McBride said wholesale prices and the price cap had risen since year-end, but the company used MoneySavingExpert’s editorial reach, provider relationships and exclusive deals to continue offering competitive options. Broadband also performed well, supported by deal availability, tenancy improvements and Altnet expansion.

Cashback was weaker, with revenue down 13% to GBP 24 million. McBride said retail remained subdued as consumer confidence and spending stayed under pressure, while U.K. marketing budgets had fallen, particularly in affiliate channels.

SuperSaveClub membership rises

Mony said SuperSaveClub now has more than 2.5 million members, after adding 1 million over the past year. McBride said one in five members are new to the group, indicating that the club is widening the company’s acquisition funnel. SuperSaveClub represented 19% of total revenue, up from 16% earlier in the year.

Engagement also increased. McBride said app downloads rose by more than 50% after the company moved to app-only redemption for club rewards, while monthly app users increased by one-third year over year. Cross-channel inquiry rates for members were 44%, which McBride said was double the group level.

McBride said SuperSaveClub members generate stronger economics than non-members. Average revenue per user for members was GBP 35, compared with group ARPU of GBP 21. Incremental gross margin for members was 77%, versus 63% for the group. He said members purchase a second product at more than double the rate of non-members and return directly rather than through paid channels at almost double the rate.

AI-enabled products broaden the platform

Duffy emphasized the company’s investment in technology and data, saying revenue per employee has increased by more than 60% over the last five years. He said the group has relaunched the MoneySuperMarket iOS and Android app with AI-powered features, in addition to a MoneySuperMarket app launched on ChatGPT earlier in the year.

Duffy described the relaunched app as a single destination to compare, switch, save, invest, earn cashback, receive rewards and manage financial activity. He said the app uses proprietary AI tooling to provide reminders and suggestions, including renewal dates and better deals.

The company has also launched Investments by MoneySuperMarket, initially as a funds supermarket where customers can invest from GBP 1 with zero trading fees and low management charges. Duffy said the offering starts with about 40 funds and ETFs and represents an AUM-based revenue stream.

Mony is also introducing SuperSaveClub Insurance, an AI-enabled digital broker beginning with motor Insurance. McBride said the proposition will let members compare, buy, manage and renew Insurance in the app, with AI guidance throughout the journey. He said members will be able to pay monthly at no extra cost compared with annual products, which he described as a first for a mainstream brand offered widely.

Duffy also said MoneySuperMarket Business Banking has opened a waitlist ahead of an August launch. The proposition is aimed at the U.K.’s 5.5 million small businesses and will combine a business current account with AI-powered tax and accounting tools and FSCS-protected banking.

Costs, cash flow and outlook

Gross profit rose 1% to GBP 142 million on a like-for-like basis, while gross margin fell 3 percentage points to 63%. McBride attributed the decline mainly to sustained pay-per-click cost inflation, though he said PPC inflation was running at about 8% exiting the half, compared with more than 20% last year.

Operating costs were 2% lower year over year. Distribution expenses fell 7% on a like-for-like basis, while administrative expenses were flat. McBride said closing headcount was down 9% and people costs were 6% lower, reflecting resource efficiencies supported by automation and AI.

Operating cash flow was GBP 36 million, down 17% year over year, due to higher working capital outflows linked to strong late-half revenue growth and a mix shift toward energy, where cash takes longer to convert. McBride said cash conversion is expected to improve in the second half.

Looking ahead, McBride said recent trading, the breadth of the portfolio and disciplined cost management give the board confidence that adjusted EBITDA for 2026 will be delivered within the company’s current published consensus.

About Mony Group (LON:MONY)

MONY Group PLC is an established member of the FTSE 250 index. The Group operates a tech-led savings platform and leading UK brands including price comparison sites (MoneySuperMarket), cashback (Quidco) and a consumer finance content led brand (MoneySavingExpert). We cover a broad range of verticals including Insurance, Money, Home Services and Travel amongst others. Our purpose is to help households save money by giving them access to free online tools that enable them to compare and switch products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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