Price comparison website moneysupermarket.com today said it had seen signs of recovery after revenues were hit by a credit drought in 2009.
The firm reported evidence of “building momentum” in sales so far during 2010, helped by an advertising campaign fronted by comedian Omid Djalili.
Revenues slid 22% to £136.9m last year, with the damage done mainly by a 44% slump in sales at its money division.
This was caused by a shift in the sales mix away from more lucrative credit products towards savings and the closure of its biggest revenue generator – Barclays’ First Plus loans arm – to new business.
The firm said: “The current level of trading is consistent with the board’s view that the business has stabilised and that the worst is behind us.”
The company, based in Flintshire, north Wales, added underlying earnings were down 26% to £36m for the year as the group shed 80 jobs to cut costs.
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