Moonpig on Tuesday said Catherine Faiers will start as chief executive officer on March 2, as the company posted a swing to a half-year profit, declared a higher dividend, and provided an optimistic outlook.
The London-based online greeting cards and gifting platform said pretax profit was £26.6 million in the six months that ended October 31, flipped from a loss of £33.3 million a year before, as revenue rose 6.7% to £168.6 million from £158.0 million.
Cost of sales increased 11% to £71.5 million from £64.4 million. However, administrative and selling expenses were slashed by 46% to £65.4 million from £122.2 million.
The company highlighted lower staff costs after a restructuring of its headcount in the Netherlands was completed in the final quarter of financial year 2025, which ended in late April.
In response to the improved results, Moonpig declared a 1.25p per share interim dividend, up 25% from 1.00p.
‘Overall group trading performance has remained in line with our expectations since the start of the second half. Growth remains underpinned by consistent strong revenue growth at Moonpig and positive trading momentum at Greetz. Current trading at Experiences has been encouraging, with improved performance in the second half to date. Our expectations for the full year remain unchanged,’ the company commented.
Outgoing CEO Nickyl Raithatha said: ‘We have delivered a strong first half, with continued momentum at the Moonpig brand complemented by a return to growth at Greetz. Customers are engaging more deeply than ever - more than 50% of customers are now using our innovative creative features to make their cards ever more personal - and our Plus subscriber base continues to grow. Experiences has also shown encouraging recent trading, with improved performance in the second half to date, including across Black Friday.
‘This strong momentum across the group, together with our sustained investment in innovation, data, and AI, has underpinned our strong earnings per share growth.’
Meanwhile, Moonpig said that Catherine Faiers will join as CEO on March 2, succeeding Nickyl Raithatha who back in June announced his departure, set for the end of December. Moonpig didn’t announce an interim CEO, though Kate Swann remains non-executive chair. Faiers joins from Auto Trader Group PLC, where she is chief operating officer.
Moonpig shares were up 2.8% to 220.00 pence each, making the stock one of the best FTSE 250 index performers on Tuesday morning in London.
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