Source - Alliance News

Moonpig Group PLC on Tuesday said that trading in its current financial year has remained in line with expectations, and it reiterated existing guidance.

The London-based greetings card and gifting company said that in the context of a ‘challenging macroeconomic environment’, it continues to expect pro forma revenue to grow at a low single digit percentage rate in the first half. It said this would be underpinned by the Moonpig brand, which remains in growth.

For the full financial year, Moonpig continues to expect consolidated revenue growth at a mid to high single digit percentage rate, with all brands returning to growth in the second half.

Its adjusted earnings before interest, tax, depreciation and amortisation margin is expected to remain ‘resilient’.

In June, Moonpig reported pretax profit for the year ended April 30 of £34.9 million, down 13% from £40.0 million the previous year. Revenue increased by 5.2% to £320.1 million from £304.3 million. Adjusted earnings before interest, tax, depreciation and amortisation reached £84.2 million, up 12% from £74.9 million.

Moonpig shares were trading 0.5% higher at 165.00 pence each in London on Tuesday morning.

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