iSelect (ASX:ISU) posts bumper first quarter earnings

Company News

by Anna Napoli

Comparison website iSelect (ASX:ISU) first quarter earnings (EBITDA) have jumped to $8.1 million compared to $1.7 million for the year earlier period.

The company says the deferral of the health insurance annual premium rise from 1st April 2020 to 1st October 2020 did result in an increase in demand during September.

The company has also promoted its chief marketing and commercial officer Warren Hebard to chief executive. He replaces Brodie Arnhold who was appointed interim CEO in April 2018, following the resignation of Scott Wilson.

The trail asset cash flows continue to perform in line with expectation and the Working Capital outflow from Trail seen in previous years continues to narrow.

Shares in iSelect (ASX:ISU) last traded at 34 cents.

Image Source: iSelect