Moneysupermarket.com starts 2008 strongly

By John Bowker

LONDON (Reuters) - Price comparison website Moneysupermarket.com (MONY.L) said on Tuesday it had made a strong start to the new financial year, although it would not commit to hitting full year 2008 market forecasts.

Chief Executive Simon Nixon said the group's core money division was maintaining double-digit growth so far this year, while the faster-growing insurance, travel and home divisions had seen momentum continue from the second half of last year.

"We are confident in our outlook -- we're pleased with trading to date but it is very early days," he told reporters, adding it was too soon to comment on full year expectations.

He said the main effect of the credit crisis and wider economic slowdown was on loans and mortgages, which were flat compared to the same period in 2007, but this still meant it was gaining market share from off-line rivals.

"Loans and mortgages are the only areas to be affected. If there was no credit crunch, we would see growth there too. (But) it's difficult to comment on the rest of the year as we don't have lots of visibility," Nixon said.

"We are pleased to be trading in line with last year considering the wider market place," he added.

Nixon said the firm would launch two new "verticals" -- or new areas of price comparison -- in 2008, although he would not say what they were for competitive reasons.

Shares in Moneysupermarket.com, which floated in July in the biggest internet IPO since Google (GOOG.O) in 2004, were up 2 percent at 136 pence by 8:39 a.m., valuing the business at 676 million pounds.