Business
Trading Update
Trading Update.
About this update from Moonpig Group Plc
[{"type":"text","content":"\n \n \n 30 March 2023\n \n \n \n Moonpig Group plc\n \n \n \n \n Trading Update\n \n \n \n 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n \n Nickyl Raithatha, CEO, commented:\n \n \n \n \n \n \n \"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.\n \n \n \n \n \n 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.\"\n \n \n \n \n \n \n \n \n Enquiries\n \n \n \n \n \n \n \n \n \n Brunswick Group \n \n +44 20 7404 5959, [email protected]\n \n \n Sarah West / Fiona Micallef-Eynaud\n \n \n \n \n \n \n Moonpig ...