Moonpig on track after strong sales and orders performance

Wed, 18th Sep 2024 11:45

(Alliance News) - Moonpig Group PLC on Wednesday backed full-year guidance despite "challenging" trading conditions, boosted by consistently strong sales and orders.

The London-based online greeting card and gifting company said its expectations for revenue growth, and adjusted earnings before interest, tax, depreciation and amortisation for the 2025 financial year remain unchanged.

Moonpig said it expects an annual revenue growth at mid-to-high single-digit percentage rate, driven by a growth in orders at the Moonpig brand.

The company noted that its Moonpig Plus membership subscriber base has continued to grow, and reported encouraging renewal rates following its launch anniversary.

Additionally, website conversion rates and new customer acquisition have both improved.

Chief Executive Officer Nickyl Raithatha commented: "Our ongoing investment in technology innovation and AI means that Moonpig Group is now consistently delivering year-on-year growth in revenue, profit and cash flow, driving sustained positive momentum in our trading performance."

He continued: "We are committed to innovation to attract and retain loyal customers and remain well positioned to benefit from the long-term structural market shift to online."

Moonpig shares were down 2.4% today at 197.60 pence per share.

By Lydia Doye, Alliance News reporter

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