iSelect posts FY18 net loss of $13.5m

Company News

by Anna Napoli

iSelect (ASX:ISU) has reported a net loss after tax of $13.5 million for the 2018 financial year.

The Insurance comparison website’s revenue fell 2 per cent over the 2018 financial year to $181.4 million.

The company posted an earnings before interest tax, depreciation and amortization (EBITDA) loss of $5.5 million.

iSelect declared a final dividend of 2.5 cents fully franked.

The company says the statutory results reflect the impact of marketing and operational challenges in the second half which are now being rectified, as well as a $16.9 million write down of non-core asset, Infochoice.

 Shares in iSelect (ASX:ISU) is trading 4.88 per cent lower to 78 cents.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.