Moonpig annual revenues to hit £300m
Trading in February and March has shown an uplift in customer cohort frequency compared to pre-Covid levels, with a ‘very successful’ Mothers’ Day in the UK
Moonpig Group plc has announced it expects annual revenues to hit £300m in the financial year ending 30 April 2022, reflecting the temporary impact of Covid-19 on customer behaviour in late December and January.
As the group’s trading performance has “remained strong”, Moonpig’s expectations for underlying revenues in FY22 remain unchanged at £265m.
Additionally, the group’s medium-term target for its adjusted EBITDA margin rate is approximately 24% to 25%.
Trading in February and March has reportedly shown an uplift in customer cohort frequency compared to pre-Covid levels. Accordingly, Moonpig said it remains confident in its existing expectations for the next financial year.
The retailer has also continued to invest in the group’s technology platform and operations network to increase capacity and to underpin its medium term target for percentage underlying revenue growth in the mid-teens.
Nickyl Raithatha, CEO, said: “Today’s update reflects continued strong trading performance post-lockdowns, including a very successful UK Mothers’ Day, and we remain confident in the outlook for the year ahead.
“Moonpig Group has delivered a permanent step change in scale over the past two years, with a larger customer base displaying higher loyalty than pre-pandemic. The long-term opportunity remains vast, and we have never been in a better position to deliver against Moonpig Group’s strategy to become the ultimate gifting companion.”
