Figures keep online greetings specialist on target for £320m annual turnover
Moonpig recorded its largest yet week of sales ahead of Mother’s Day, according to its latest trading update which highlighted that group annual revenue is expected to hit £320million for the full year, with further growth expected in the coming 12 months.
Nickyl Raithatha, ceo of Moonpig, commented that the figures in the update released by the online greeting card and gift retailer yesterday, 30 March, are “testament to the resilience of our business model, as demonstrated by a record UK Mother’s Day”.
The company reported that its trading performance has been “resilient across the second half of the year to date” and confirmed its expectations for group annual revenue for the financial year ending 30 April, 2023, remain unchanged at around £320m.
It added that the “disciplined approach to indirect cost management and our flexible business model meant expectations for full year adjusted EBITDA also remain unchanged, and it remains “confident in the structural growth opportunity in our markets and in the fundamental strength, resilience and agility of our business”.
Nickyl added: “Moonpig Group’s leading market positions, strong customer retention, high profitability and robust cash generation equip us to navigate all stages of the economic cycle.
“We are excited to return to revenue growth in the year ahead, underpinned by continued investments in our technology, marketing and operational capabilities.
“Moonpig Group is well positioned to benefit from the long-term structural market shift to online.”