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Our impatience is our virtue

Our belief is that technology can be a powerful enabler, but it is our people that translate that into meaningful experiences for our customers. That’s why we have invested heavily in our people and improved everything from the recruitment and induction process, to the ongoing development of individuals and teams, to taking a long-term view of the skills and capabilities our business will need most.

Dear Shareholders,

In our second full year as a listed company we became a multi-brand, multi-office Group with enhanced technical and operational capabilities that place us in a strong position to help people everywhere save time and money.

Throughout 2018 we demonstrated our ability to work and adapt quickly to a dynamic environment without losing sight of the day-to-day requirements of our businesses. We firmly believe that choosing to grow quality earnings in a challenging economic cycle remains a good business and financial decision, allowing us to allocate capital to ideas that will transform the customer experience – and the company – over the medium to long term. Our fast integration of two acquisitions enabled us to leverage the companies’ assets to the benefit of the Group, launching a brand-new automated switching proposition in the form of weflip, and achieving 13.6% operating profit and 22.2% adjusted operating profit growth.

Just a month after acquiring Energylinx, we made use of their industry-leading, Ofgem-regulated comparison and switching service to launch a new customer journey through GoCompare, and in October we launched weflip having built the service using Energylinx and our Newport-based engineering and data teams. Energylinx was also an excellent acquisition in its own right with strong underlying financial performance since acquisition. With MyVoucherCodes, we quickly replatformed the business and used our strengths in technology and partner relationships to secure exclusive deals with News UK and Reach plc to power the discount voucher services for The Sun and Express websites.

The achievements delivered by the team at the GoCompare Group give me a real sense of pride. We’ve been consistent in believing that we can stand out in extremely competitive environments by having an entrepreneurial mindset and a culture that supports experimentation and demands action. With our consistent focus on profitable, disciplined delivery, strong cash generation allows us to make a more strategic use of capital be that through marketing, acquisitions or investments.

Matthew Crummack

Chief Executive Officer