Gocompare on track for leap in halfyear profits

Price comparison site Gocompare has said it is on track for a 22 per cent leap in half-year earnings and hopes for further trading cheer as its overhaul bears fruit.

The firm yesterday hailed “organisational and operational transformations” made at the start of the year after it was spun out of insurance giant Esure last November.

Boss Matthew Crummack said trading had been boosted by the changes, with improvements set to ramp up over the rest of the year. Gocompare, which allows customers to compare rates of insurance policies, financial products and energy tariffs, is expecting to post half-year underlying operating profits of around £17.5 million.

It said sales rose 4 per cent to around £75.8m in the six months to 30 June. The group also announced its first strategic investment, with a minority stake bought in digital “robo-adviser” Mortgage Gym, which is set to launch in September. Gocompare listed on 3 November last year.