iSelect Announces Regarding Trading Update and CEO Resignation

iSelect Limited provides the following update, that saw trading through the last two weeks of March and the first three weeks of April, below company expectations:

  • Both the Health and Energy & Telco verticals have been negatively impacted by market volatility and lower than expected leads due to changes in the marketing mix, particularly reduced search engine marketing (SEM)
  • Health experienced a softening in overall market demand following low industry rate rises and challenging market conditions given ongoing industry affordability issues
  • Energy & Telco was impacted by higher digital customer acquisition costs and lower leads
  • Life & General Insurance has been performing to plan, with the changes implemented in Life stabilising that segment and General Insurance continuing to grow.

Revised FY18 underlying EBIT guidance

iSelect has reviewed its expectations for the remainder of the 12 months ending 30 June 2018 (FY18) in light of current market conditions, performance in the second half of FY18 and in particular trading over the past five weeks. With June historically accounting for the bulk of second half earnings and assuming a similar trajectory as that experienced over the last five weeks, the Company has updated its guidance for FY18 underlying EBIT to be in the range between $8 million to $12 million (previously $26 million to $29 million).


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s