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Highlights

  • MONY's group revenue grew by 4.5% in H1 FY24
  • Customer savings reached GBP 1.7 billion in H1 FY24, driven by car insurance switching

Mony Group PLC (LSE:MONY) is an FTSE 250 listed UK-based company that runs a technology-driven savings platform designed to help households save money. The company provides consumer finance brands via its own tech-focused savings platform. It has a market capitalization of GBP 1069.43mn.

In H1 FY24, MONY's group revenue increased by 4.5%. In Q2 2024, the Insurance sector saw a 6% growth driven by high premium prices, while the Money segment experienced flat results due to weak loan performance. Home Services continued to show softness, whereas Travel achieved solid, albeit competitive, growth. Cashback grew by 4% in Q2 and 3% for the half-year, largely due to contributions from Insurance and Quidco Compare.

During H1 FY24, MONY estimated customer savings reached GBP 1.7 billion, supported by a rise in car insurance switching. The marketing margin improved due to reduced spending, and the Net Promoter Score (NPS) held steady at 71. Active users increased by 1.1 million to 14.3 million, despite a drop in energy enquiries. The cross-channel enquiry rate also rose to 23.9%, highlighting strong engagement across multiple channels.

Further, in H1 FY24, the company achieved a net margin of 19.7% and a debt-equity ratio of 0.22x, compared to 19.2% and 0.31x in H1 FY23.

Recent Business Update

The company has announced the appointment of Valerie Sick to its board as an independent non-executive Director, with immediate effect.

Company Outlook

The company's board is optimistic that Mony Group PLC will achieve market expectations for the year, due to the advancement of their strategy and growth initiatives. They expect Insurance growth to stabilize following the exceptional results of 2023 and do not anticipate substantial revenue from energy switching this year.

Top 10 Shareholders

The top 10 shareholders of MONY together account for approximately 51.38% of the total shares. Gruppo MutuiOnline SpA holds the largest stake with around 8.01%, followed by Columbia Threadneedle Investments (UK) with about 5.06%, as shown in the chart below.

Price Performance

The stock price of MONY has dropped approximately 8.50% over the past month and about 17.36% over the last six months. It has a 52-week low of GBX 197.10 and a 52-week high of GBX 288.80, and is currently trading below the average of these 52-week high and low values.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 11 September 2024. The reference data in this report has been partly sourced from EODHD/Others.