Admiral cites Google for drop in Confused's profit to £15.8m
Admiral Group has reported that its UK aggregator Confused.com saw a drop in pre-tax profit to £15.8m in 2014 (2013: £21.7m).
The CEO of Confused.com Martin Coriat said: "The reduction in profit is driven by the limited growth in the market and the impact of changes made by Google to its natural search alogorithms impacting Confused's search engine optimisation position early in the year, but also reflects our relative media spend and advertising effectiveness."
Overall in the UK Admiral Group reported a 6% decline in turnover to £1.6bn (2013: £1.7bn), with pre tax profit up 1% to £398m (2013: £393.9m). Its motor COR
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