StockMarketWire.com - Go-Compare owner GoCo reported a fall in profit on higher costs driven by investment into autosave and the impact from Covid-19.

For the six months ended 30 June 2020, pre-tax profit fell 20% to £6.1m on-year, while revenue rose 9% to £82.8m.

The fall in profit reflected the 'adverse impact of Covid-19 on the price comparison and rewards segments and an increase in total administration costs, partly offset by a significant improvement in the trading profit of the autoSave business,' the company said.

The 2020 interim dividend declared of 0.4 pence per share was unchanged on last year.

'The group has seen an improvement in performance since the middle of May, however, we are aware that the consumer environment remains vulnerable and uncertain with a broad range of outcomes for the year still possible,' the company said.

'We are therefore continuing to suspend formal guidance for 2020 but we maintain our commitment to keep the market apprised of our position,' it added.


At 9:27am: [LON:GOCO] Gocompare.com Group Plc share price was +1.9p at 96.7p



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