Moonpig trading in line with expectations
Moonpig has said its group trading has been in line with expectations in its financial year to date despite ongoing macro headwinds in the gifting market.
In a trading update, the retailer said growth has been underpinned by a consistent strong sales performance at Moonpig and steady progression at Greetz towards positive sales growth.
The group said trading remains challenging at its Experiences business as it continues to implement its transformation strategy.
Meanwhile, Moonpig’s website conversion rates and new customer acquisition have both improved which means its active customer base is now in consistent month-on-month growth.
Nickyl Raithatha, Moonpig chief executive, said: “Our ongoing investment in technology innovation and AI means that Moonpig Group is now consistently delivering year-on-year growth in revenue, profit and cash flow, driving sustained positive momentum in our trading performance.
“We are committed to innovation to attract and retain loyal customers and remain well positioned to benefit from the long-term structural market shift to online.”
The group is continuing to expect full year revenue growth to come at a mid-to-high single digit percentage rate and its adjusted EBITDA margin rate to be approximately 25% to 26%.
This week, Moonpig announced that it had embarked on a new partnership with toy retailer The Entertainer,
