The group behind grocery price comparison website are insisting the site is a success - even though it has yet to generate any revenue nearly five months after it went live.

Johnny Stern, one of the investors in the site, which cost a seven-figure sum to set up last October, said half a million users used the site in the run up to Christmas as they sought out the cheapest food and drink.

Many visitors used the site to shop online with the retailers featured - Tesco, Asda, Sainsbury's and Ocado. But others used it to prepare for trips to the supermarket, said Stern.

"As delivery slots started running out towards Christmas we also introduced a new 'print your shopping list' feature, which was popular," said Stern. "A lot of our shoppers are using the website as a quick way to find the best deals and are then going to the supermarket to make their purchases."

Analysis of visits showed had a loyal repeat following, said Stern, who claimed visitors were spending an average of 20 minutes on the site. users compile a shopping list and are told by the site which is the cheapest of the four online retailers. They can then click through to that retailer's site to complete their transaction.

New features have been added to the site since its launch in October, including a 'save more' function, which identifies the best promotions.

The site remains free to use because the company's main priority is to build up a loyal following to increase its appeal to potential commercial partners.

"The plan is to provide brands with the opportunity to offer shoppers further money-saving promotions, and for Mysupermarket to become an indispensable ally for the shopper in keeping their weekly supermarket spend in check," said Stern. "We are involved in several discussions that will bring more savings opportunities."