February 28, 2018 / 7:28 AM / 3 months ago

Price comparison firm Gocompare's FY operating profit rises 20 pct

Feb 28 (Reuters) - Price comparison website operator Gocompare.Com Group Plc reported a 20 percent rise in 2017 adjusted operating profit as an increase in car insurance premiums prompted more consumers to use price comparison websites to switch providers.

Gocompare.Com, which demerged from British insurer esure Group, said adjusted operating profit rose to 36 million pounds ($50.0 million) for the year ended Dec. 31, from 30 million pounds a year earlier, helped in part by higher marketing margins.

Revenue rose 5.1 percent to 149.2 million pounds in the period. ($1 = 0.7194 pounds)

Reporting by Noor Zainab Hussain and Justin George Varghese in Bengaluru; Editing by Amrutha Gayathri

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