Moonpig trading on track as it announces new £65m share buyback
Online greeting card platform Moonpig has reported that its second half trading is in line with expectations as it looks ahead to a new £65 million share buyback programme.
As a result, it expects to deliver on its full year guidance of mid-single digit percentage growth in group adjusted EBITDA.
It is also forecasting that the Moonpig brand will achieve high single digit percentage revenue growth in the year.
Subscribe to TRBThe group said its Greetz offering has maintained low single-digit revenue growth in constant currency, while its Experiences division has traded slightly ahead of expectations and is now forecast to deliver a mid-single-digit percentage revenue decrease for the period.
Catherine Faiers, Moonpig Group’s recently appointed chief executive, said: “Having joined the group at the start of March, I have spent my first weeks meeting teams across the UK and the Netherlands and immersing myself in the business.
“I have been particularly struck by the strength of our brands, the commitment of our colleagues and the depth of capability across the organisation.”
She added: “Moonpig benefits from a compelling customer proposition and leading market positions in online greeting cards and gifting.
“Looking ahead, I see a clear opportunity to build on our proprietary data and strong customer relationships to become even more relevant to customers and inspire even greater creativity in how people celebrate and connect.”
The group has confirmed that it is on track to complete £60 million of share buybacks by the end of FY26, and has now announced that it will commence a further buyback programme of up to £65 million for FY27.
Faiers said: “With our strong brands, loyal customer base and highly cash generative model, I am confident the group is well positioned to deliver sustained growth over the years ahead.”
