PUNT OF THE WEEK: GoCo is behind the Gocompare price comparison and other money-saving websites
What is it?
The company behind the Gocompare insurance price and comparison website – and its well-known opera-singing adverts. Listed on the main market, its other brands include discount voucher site My Voucher Codes.
What’s the latest?
Revenue was up by 9 per cent year-on-year in the first half of the year – but profits fell 20 per cent to £6million as it invested in its Autosave business.
Who backs it?
Chairman Sir Peter Wood is the top shareholder, with almost 30 per cent. Institutional investors include Jupiter, Vanguard and Janus Henderson.
Why should you invest?
Susannah Streeter, senior investment analyst at Hargreaves Lansdown, said its business could be in high demand amid the pandemic.
She said: ‘During tough times consumers tighten their belts and look around for ways to cut household bills and GoCo is firmly planted in the business of saving money and trimming bills.’
And why shouldn’t you?
But, Streeter added, Covid has ‘put a spanner in the works’, with a £1.3million cut in income mainly from the travel industry.