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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter.