Moonpig boosted by ‘strong’ first half
Moonpig Group has reported an increase in first half profit and revenue following continued momentum at Moonpig and a return to revenue growth at Greetz.
For the six months to 31 October, the online greeting card group reported an 11.4% increase in adjusted pre-tax profit to £30.5 million, alongside a 6.7% rise in revenue. This included a 9.4% increase at Moonpig and a 1.3% uplift at constant currency at Greetz.
However, revenue in Moonpig’s experiences division fell by 8.9% due to a “challenging” trading environment, although the group noted that more recent trading has shown signs of improvement.
Nickyl Raithatha, chief executive of Moonpig explained: “We have delivered a strong first half, with continued momentum at the Moonpig brand complemented by a return to growth at Greetz.
“Customers are engaging more deeply than ever – more than 50% of customers are now using our innovative creative features to make their cards ever more personal – and our Plus subscriber base continues to grow.
“Experiences has also shown encouraging recent trading, with improved performance in the second half to date, including across Black Friday.
“This strong momentum across the group, together with our sustained investment in innovation, data, and AI, has underpinned our strong EPS growth.”
Looking ahead, the group said its trading performance has remained in line with expectations since the start of the second half with consistent strong revenue growth at Moonpig and positive trading momentum at Greetz.
Raithatha said: “With real momentum and multiple growth levers to pull, the group is well-positioned to continue capitalising on the long-term structural shift from offline to online.”
