High Street

Moonpig posts £51m profit for FY22

Moonpig said its group revenue in FY23 was expected to be approximately £350m, ‘based on the anticipated completion of the acquisition of Buyagift by the end of July 2022’

Moonpig has revealed adjusted profit before tax of £51.5m for the year end 30 April 2022, down 30.9% on its 2021 results, but up 55.2% on 2020.

Meanwhile its group revenue was £304.4m, down 17.3% on 2021 but up 75.8% on 2020 figures. Adjusted EBITDA was down 18.7% to 74.9m, but up 68.7% on 2020.

Moonpig said its group revenue in FY23 was expected to be approximately £350m, “based on the anticipated completion of the acquisition of Buyagift by the end of July 2022”.

In the medium-term, it said it will continue to target mid-teens percentage underlying revenue growth for the enlarged group, and it has recently raised the group’s medium-term Adjusted EBITDA margin rate target to between approximately 25.0% and 26.0%.

Nickyl Raithatha, CEO, said: “Our first full year as a listed company has been another transformational period for Moonpig Group – financially, operationally and strategically. We have significantly outperformed the targets set out at IPO, and recently announced the proposed acquisition of Buyagift, which will accelerate our journey to becoming the ultimate gifting companion.

“We remain confident in the outlook for the current year, with our loyal customers continuing to rely on Moonpig to connect with loved ones at moments that matter. The long-term opportunity remains vast and we have never been in a better position to capture it.”

 

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