Go Compare owner sees profit slip
GoCo Group’s preliminary results suggested operating profit would drop more than 46% amid transformation plan.
The parent company of aggregator Go Compare, GoCo Group, has reporting a fall in operating profit in its preliminary results for the full year ended 31 December 2019.
Operating profit fell to £20.3m from £37.5m the previous year.
Revenue was steady at £152.4m (2018: £152.6m).
Development
The group blamed the operating profit plummet on its investment in its new AutoSave service. According to the organisation, AutoSave delivered £6.6m of revenue in 2019 H2 and break even trading profit. In
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