iSelect profit falls while revenue lifts in half year

Company News

by Jessica Amir

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. 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.