Financial services price comparison site Moneysupermarket.com saw its revenues drop following an update to Google’s search algorithm.
The price aggregator commented that its sales of insurance services slowed during the second quarter. This followed changes made by Google to its search algorithms, which apparently led to a reduction in “visitors and revenues” from natural search during the month of June.
This was specifically in the “highly competitive insurance search area”, the company said.
Despite this Moneysupermarket.com saw its half year revenues reach £112 million, 10 percent higher than in 2012.
In a trading statement on Thursday the firm said that the changes to Google’s algorithm change are no longer causing problems, and efforts are being made to return to its original search position.
“The algorithm changes have settled down we are working on regaining our positions in natural search in insurance,” teh company stated.
Last year Moneysupermarket.com announced the acquisition of competing price comparison site MoneySavingExpert, buying the personal finance website for £87 million.
Google itself has also entered into the market for insurance and legal services comparisons, buying Beatthatquote.com for £37.7 million in 2011. Just days after the acquisition the site was lowered in Google’s own rankings when it was found that the site was in violation of the search engine’s rules around linking.