Visitor numbers as a whole increased by 6% during the early part of the year but the business has made 80 of its 550 staff redundant to save £2.3m per year due to falling sales in the economic downturn.
The business said revenues from its credit-related products fell by more than 50% compared with the same period last year, while demand for non-credit products, particularly savings and current accounts, remains stronger. With the UK consumer seeking to reduce debt and providers continuing to tighten their lending criteria, people have not been buying through Moneysupermarket's loans and mortgages channels.
Sales from insurance products are approximately 10% lower than the same period last year. The motor insurance marketplace continues to be competitive and people are spending less on travel insurance, but Moneysupermarket said there was growth in its home Insurance business.
Revenues from home services such as utilities have slumped to 50% below the same period last year, as utilities tariffs have been relatively stable over the period. But the business said recent price reductions from energy suppliers have increased demand from consumers looking to get the best deal.
Sales from short breaks, including hotels and flights, have been hit by the lower levels of consumer spending in general. Demand for package holidays, however, remains strong. Travelsupermarket.com's website has undergone a redesign which will be launched this month.
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