Moonpig revenues remain unchanged at £320m in FY22
While the group remains mindful of the macroeconomic environment, it still expects revenue to grow across FY24, with the rate of growth weighted towards the second half of the year
Moonpig has revealed that the group’s annual revenues for the financial year ending 30 April remain unchanged at roughly £320m, with full-year adjusted EBITDA also remaining unchanged.
The news comes as the online retailer’s performance has been resilient across the second half of the year to date, having recorded its largest ever week of sales ahead of Mother’s Day.
While the group remains mindful of the macroeconomic environment, it still expects revenue to grow across FY24, with the rate of growth weighted towards the second half of the year.
Over recent years, the retailer has invested in technology and data, and are focused on the development of customer-facing functionality to drive revenue growth.
Nickyl Raithatha, CEO of Moonpig, 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.”
