Online greeting cards and gift retailer Moonpig backed its full-year guidance on Thursday as it hailed a record Mother’s Day performance.
The company said trading has been resilient across the second half of the year to date and it recorded its largest ever week of sales in the UK ahead of Mother’s Day.
As a result, its expectations for the year to 30 April 2023 are unchanged. It continues to expect revenue of around £320m, while adjusted EBITDA guidance also remains unchanged.
Moonpig said that while it remains “mindful of the macroeconomic environment”, it expects revenue to be in growth across FY24, with the rate of growth weighted towards the second half of the year.
Chief executive Nickyl Raithatha said: “Today’s update is testament to the resilience of our business model, as demonstrated by a record UK Mother’s Day. 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. As the clear online leader in greetings cards, Moonpig Group is well positioned to benefit from the long-term structural market shift to online.”
