Source - Alliance News

Moonpig Group PLC on Thursday hailed its best ever week of UK sales in the run-up to Mother’s Day earlier in March, and the online greeting cards and gifting company backed yearly guidance.

Shares in the company jumped 16% to 132.00 pence each in London on Thursday morning.

Moonpig, which ends its financial year on April 30, said its trading performance so far in the second half has been ‘resilient’.

It enjoyed ‘its largest ever week of sales in the UK ahead of Mother’s Day’, which was on March 19.

It still expects yearly revenue of around £320 million, which would represent a 5.2% rise from £304.3 million in financial 2022.

‘We remain confident in the structural growth opportunity in our markets and in the fundamental strength, resilience and agility of our business. Our investments in technology and data over recent years mean that we are well-positioned to capture this opportunity, and with re-platforming now complete, our teams are focused on the development of customer-facing functionality to drive revenue growth,’ Moonpig said.

Looking further ahead, it expects revenue growth in the next financial year, with the improvement weighted to the second half.

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