iSelect profit falls while revenue lifts in half year

16/02/2018 10:50:00

This video is not supported on your device. Click here for the original version.
Insurance comparison website, iSelect, (ASX:ISU) has seen its attributable profit slump to $500,0000 in the six months to December from $2.6 million in the first half of 2017.

Despite this, the company says its balance sheet remains strong with no debt and over $34 million in cash.

Meantime its revenue strengthened in the half-year, rising 7 per cent to $83.3 million driven by an increase in customer leads and conversion rates.

Its earnings before interest and tax (EBIT) sank 89 per cent to $308 million.

The company declared an interim or half year dividend of 1.5 cents per share for the first half of this financial year. 

Shares in iSelect (ASX:ISU) are trading 5.7 per cent higher to $1.30.