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Moonpig has said that its overall trading performance has been in line with its expectations in its latest trading update for the current financial year.
In light of this, the group has kept to its existing guidance for the full financial year. It has also prioritised greeting card sales, which it said have a “demonstrable track record of being resilient across the cycle”.
It found that average order values have increased year-on-year, supported in particular by cards, and margin trends remain “resilient” in the absence of any significant pressure from input cost inflation.
Moonpig said it also expects the business to return to pre-Covid seasonality, and also expects between 58% and 60% of revenue to arise in the second half of the financial year.
Nickyl Raithatha, CEO, said: “Moonpig Group’s trading remains resilient and we are confident that full year revenue will be approximately double the level achieved three years ago. The Group continues to offer a powerful and unique combination of leading market positions, strong customer retention, high profit margins and robust cash generation.
“Against the current macroeconomic backdrop, our continued performance reflects the strength of our data-led business model and the long term opportunities in our markets. Following the acquisition of the Experiences Division and the successful migration of Greetz onto our central technology platform, we look to the future with confidence as we execute on our strategy to capture the secular shift in our markets from offline to online.”
