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BGL Group reveals strong revenue growth

BGL Group reveals strong revenue growth | Insurance Business

BGL Group reveals strong revenue growth
After we revealed LV=’s results earlier today, now it is the turn of BGL Group to move into the spotlight.

The company, which owns brands such as comparethemarket.com, beaglestreet.com and LesFurets.com, enjoyed a 14% rise in underlying revenues year over year, totalling £585 million; while it’s underlying profit before tax increased by 19% to £126 million for the financial year ending on June 30.

Focusing specifically on the comparison website, it saw its revenues climb by 13% as customer numbers topped the five million barrier. LesFurets.com, meanwhile, is based in the French market and saw quote volumes result in record revenues – up 33% on the previous year.

Meanwhile, the firm’s insurance distribution and outsourcing division, which includes life insurer beaglestreet.com, as well as affinity partnerships business Junction and brands Budget and Dial Direct, saw revenue climb by 12%.

“We have delivered a record year in terms of revenue, profit and customers, with progression in all our businesses,” commented chief executive Matthew Donaldson. “Comparethemarket.com remains the first choice for customers in price comparison; LesFurets.com is leading the French comparison market; and the significant potential of our insurance distribution and outsourcing division saw it continue to enhance the group’s product offering, where we were delighted to add SunLife and Virgin Money to our portfolio.

“Across all of our operations we continue to innovate and deliver outstanding digital propositions to our customers, supported by our investment in our new tech and digital hub in London which opened towards the end of the financial year.”

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