Newport-based comparison website Gocompare.com has seen a 21.5 per cent rise in adjusted operating profits in the six months to June 30, 2017.

The company, which is based at Imperial Park on the outskirts of Newport, reported in it's interim results for the six month period that revenue has risen 4.1 per cent to £75.8m from £72.8m in the first half of 2016.

The adjusted operating profit was £17.5m in the first half of this year compared to £14.4m in the corresponding period of 2016.

The report also showed a rise of 1.3 per cent in customer interactions from 16.9m in H1 2016 to 17.1m in H1 2017.

And savings made by customers was reported to have risen by 27 per cent. It was £620m in H1 2017 compared to £490m in the same period of 2016.

The report showed the following business highlights:

• Increased agility in the business, accelerated delivery of updates to the site.

• Invested in talent, strengthening key capabilities in Tech, Product and Marketing

• Exclusive partnership agreement signed with Haymarket Media Group.

• First strategic investment, acquiring minority shareholding in Mortgage Gym Limited.

• Leverage of 1.5x – down from 1.7x at 31 December 2016 and 2.8x at the time of demerger.

• Interim dividend declared of 0.7 pence per share.

Sir Peter Wood, Chairman, said: “The executive team under chief executive Matthew Crummack’s leadership has made great progress in building on GoCompare’s strong foundations and its continuing evolution into a leading tech business.

“I am delighted with the increase in adjusted operating profit and strong cash generation. Our maiden interim dividend of 0.7pence per share balances cash returns to shareholders with our ability to fund potential strategic investments.

“GoCompare is well positioned to continue to drive shareholder value by remaining focused on providing an independent, unbiased and fair service that helps customers save time and money”

Matthew Crummack, chief executive officer, said: "We have delivered material improvements to our core business following organisational and operational transformations early in the year and I am particularly pleased with the integration and performance of our existing talent, alongside new talent recruited in Newport.

"As well as progressing the core business we have continued to develop our strategy and our investment in Mortgage Gym is an exciting opportunity to work with an innovative business that is well aligned to our mission of helping people everywhere save time and money.”