LONDON, March 1st, 2009.
DESPITE very tough trading conditions in some of its core markets, Media Ingenuity experienced another year of record results for 2008.
Turnover for the consolidated Group was up by close to 50% compared to 2007 (growth of 650% since 2006). The Group also revealed that it had been profitable in every quarter since the middle of 2006.
Adam Quint, managing director, commented: “Of course, trading has been very difficult in credit products over the last 18 months, but we have retained good flexibility as a business and we’ve been able to adapt our model to suit the new credit environment. Over the last 12 months we have also successfully diversified into new products such as insurance and utility comparison which are less sensitive to the downturn in the economy.”
Media Ingenuity launched life insurance and health insurance comparison services during 2008 and partnered with EnergyLinx to introduce energy supplier comparison and switching in February of the same year, with Broadband and telephone switching introduced by October.
Quint added: “The diversification process continues and we have some very exciting new developments planned for 2009.”
TotallyMoney.com is already one of the most visited credit comparison destinations in the UK. Having grown at a rapid rate, we are now aiming to change the game altogether by developing a revolutionary approach to credit comparison. By creating exceptional comparison tools and publishing indispensable content, TotallyMoney.com is empowering people to make better financial choices.
Media Ingenuity Group is a leading digital media business focused on consumer finance. We are on a mission to deliver the best online comparison tools and financial products that allow people to make smarter decisions. We are also a centre of excellence in marketing.
Since Media Ingenuity was founded in 2006 we have created a series of products and services that have been used by millions of people looking to compare financial products and save money online. We have also become one of the largest online advertisers in the UK.
Editor and supplementary notes
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