UPDATE 1-Moneysupermarket.com sees dip in H1 earnings

* H1 EBITDA seen around 18 mln stg vs 18.6 mln stg last year * Fall due to investment; H1 revenues seen up about 5 pct

* Travel revenues down 20 pct

* Gross profit margins up

(Adds detail, background)

LONDON, July 9 (Reuters) - British price comparison website Moneysupermarket.com (MONY.L) expects a small fall in first-half underlying earnings as investment and tough travel markets offset revenue growth in money and insurance products.

The group, which uses actor and comedian Omid Djalili in its advertising, said earnings before interest, tax, deprecation and amortisation (EBITDA) were likely to be about 18 million pounds ($27.3 million) for the six months to June 30, down from 18.6 million in the same period last year.

This was due in part to higher spending on advertising and product development, which the group said was yielding benefits, with gross profit margins up by an undisclosed amount and profitability improving throughout the period.

Revenues rose about 5 percent to 71.5 million pounds, with UK internet revenues up 6 percent.

Excluding travel, UK internet revenues climbed over 10 percent, driven by strong growth in money- and insurance-related products.

Travel revenues were down 20 percent, reflecting broader problems in an industry hit by the economic downturn and the disruption to flights due to a volcanic explosion in Iceland.

Moneysupermarket.com shares have lagged the UK media sector .FTASX5550 by 14 percent this year. They closed at 69.1 pence on Thursday, valuing the business at about 354 million pounds. (Editing by David Cowell)