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Moneysupermarket.com’s shares fell 15 per cent on Wednesday even though the price comparison website reported revenue and profits bang in line with expectations.
The trouble is that last month the company lost its leading positions in Google search results for some key terms for motor and home insurance. On Wednesday the group was unable to show much progress in getting back to the top search positions.
While investors are right to be concerned, Google is only one of several ways that Moneysupermarket attracts customers. As long as the group can maintain its current pace of growth, the shares look reasonable on about 17 times forward earnings.
|Six months to 30 June||% change|
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