Moonpig performance boosted by investments in technology
Moonpig Group is expecting its revenue to reach between £350 million and £353 million in the year to 30 April as it continues to invest in technology,
In a trading update. the greeting cards and gifting specialist said it will deliver a stronger than expected adjusted EBITDA margin, which will be at the top end of its 25% to 27% guidance range.
The revenue growth has been underpinned by strong sales at the Moonpig brand, driven across three core growth levers of customer base, order frequency and average order value.
Meanwhile, the group’s Greetz business in the Netherlands made a softer start to the second half of the year but has recently seen its performance improve.
Never Miss a Retail Update!Moonpig said gift attachment rates at Moonpig and Greetz have seen strong growth in the second half, supported by enhanced recommendation algorithms and the introduction of third-party brands to their gift ranges.
Nickyl Raithatha, chief executive of Moonpig Group, said: “We are pleased that Moonpig Group continues to deliver strong profitability and high free cash flow generation, driven by the power of the Moonpig brand.
“Our strong performance reflects our unique customer proposition and sustained investments in technology and data.
“By using technology, data and AI, we help our customers express themselves and connect with their loved ones, deepening engagement and strengthening loyalty.
“One in three Valentine’s Day cards created on Moonpig and Greetz featured at least one of our innovative personalisation tools, such as AI handwriting, or audio and video messages.”
