June 11, 2020 / 6:27 AM / 23 days ago

BRIEF-Moneysupermarket.Com Continues To Suspend Forward Financial Guidance For 2020

June 11 (Reuters) - Moneysupermarket.Com Group PLC:

* HOUSEHOLDS CONTINUE TO SWITCH DURING LOCKDOWN, SAVING OVER £800M SO FAR THIS YEAR

* MOTOR INSURANCE SHOWING SIGNS OF RECOVERY; MONEY REMAINS CHALLENGED; STRONG DEMAND IN HOME SERVICES

* CONTINUE TO SUSPEND FORWARD FINANCIAL GUIDANCE FOR 2020

* AS AT END OF MAY 2020, WE HAD NET DEBT OF £0.8M HAVING PAID £46M 2019 FINAL DIVIDEND

* MARKET-WIDE SEARCH DEMAND FOR CREDIT PRODUCTS DECREASED MATERIALLY, DOWN 37% YEAR ON YEAR FOR LOANS & CARDS COMBINED IN APRIL

* IN APRIL, PROPORTION OF CONSUMERS ELIGIBLE FOR LOAN PRODUCTS ON OUR MONEYSUPERMARKET SITE FELL FROM ABOVE 85% TO BELOW 65%

* ACROSS BANKING MORE BROADLY WE NOW HAVE A VERY SIGNIFICANT REDUCTION IN ATTRACTIVENESS AND AVAILABILITY OF PRODUCTS

* CLOSED CAR DEALERSHIPS SIGNIFICANTLY REDUCED CAR SALES, WHICH ARE A TRIGGER FOR CAR INSURANCE SWITCHING AND LOAN DEMAND

* THERE ARE SIGNS OF LOWER CAR INSURANCE PREMIUMS IN APRIL AND MAY COMPARED TO LAST YEAR

* VIEW LIKELIHOOD OF A RETURN TO PREMIUM INFLATION IN 2020 AS LOW Source text for Eikon: Further company coverage:

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