Trading Update

RNS Number : 6855U

Moonpig Group plc

30 March 2023

 

30 March 2023

Moonpig Group plc

Trading Update

Moonpig Group plc (the "Group"), the leading online greeting card and gifting platform in the UK and the Netherlands, today provides an update on its trading performance in the current financial year.

Trading performance has been resilient across the second half of the year to date and Moonpig recorded its largest ever week of sales in the UK ahead of Mother's Day. Accordingly, we confirm that our expectations for Group annual revenue for the financial year ending 30 April 2023 remain unchanged at around £320 million. Expectations for full year Adjusted EBITDA also remain unchanged, reflecting our disciplined approach to indirect cost management and our flexible business model.

We remain confident in the structural growth opportunity in our markets and in the fundamental strength, resilience and agility of our business. Our investments in technology and data over recent years mean that we are well-positioned to capture this opportunity, and with re-platforming now complete, our teams are focused on the development of customer-facing functionality to drive revenue growth.

Looking forward, whilst we remain mindful of the macroeconomic environment, we expect revenue to be in growth across FY24, with the rate of growth weighted towards the second half of the year.

Nickyl Raithatha, CEO, commented:

"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."

Enquiries

Brunswick Group  [phone], [e-mail]

Sarah West / Fiona Micallef-Eynaud

Moonpig Group    [e-mail], [e-mail]

Nickyl Raithatha, Chief Executive Officer

Andy MacKinnon, Chief Financial Officer

About Moonpig

Moonpig Group plc (the "Group") is a leading online greeting cards and gifting platform, comprising the Moonpig, Red Letter Days and Buyagift brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its markets and is also the UK market leader in gift experiences.

The Group's leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.

The Group offers its products through its proprietary technology platforms and apps, which utilise unique data science capabilities designed by the Group to optimise and personalise the customer experience and provide scalability. Learn more at https://www.moonpig.group/ .

Forward Looking Statements

This announcement contains certain forward-looking statements with respect to the financial condition, results or operation and businesses of Moonpig Group plc. Such statements and forecasts by their nature involve risks and uncertainty because they relate to future events and circumstances. There are a number of other factors that may cause actual results, performance or achievements, or industry results, to be materially different from those projected in the forward-looking statements.

These factors include general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance of programmes, or the delivery of products or services under them; industry; relationships with customers; competition; and ability to attract personnel. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. We undertake no obligation to update or revise any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances.

 

END

 

 

TSTUKUBROOUOUAR