A selection of greetings cards
The company delivered revenue growth of 6.6% to £341.1 million / Image source: Adobe
  • Moonpig Plus subscriptions surpass expectations
  • Group remains strongly cash generative
  • Shares up 31% over past year

Shares in Moonpig (MOON) were up nearly 9% to 173p in morning trading after the online greeting cards-to-gifting platform reported a 5% rise in adjusted pre-tax profit to £58.2 million for the year ended 30 April 2024.

The company delivered revenue growth of 6.6% to £341.1 million ‘driven by strong performance of the Moonpig brand’.

The FTSE 250 firm remains strongly cash generative, with operating cash inflows rising from £56.2 million to £74.2 million last year.

There was also joy as Moonpig Plus subscriptions exceeded management’s expectations, having attracted over half a million members ‘within a year of launch’.

Growth in orders at Moonpig’s Dutch business Greetz improved from a decrease of 5.1% in the first half to an increase of 5.2% in the second half of last year. Revenue in the Experiences business, which includes the Red Letter Days and Buyagift brands, ticked up 1.5% year-on-year to £48.6 million.


Moonpig said its creativity features were used over 10 million times, allowing customers to add video and audio messages, ‘sticker’ images, digital gift vouchers and AI-driven customised messages to greeting cards.

Same-day gifting was also launched on Moonpig by combining e-cards with new digital gift experiences.


‘Full year 2024 has smashed Liberum numbers by circa £10 million on revenue and circa £10 million on profits,’ said broker Liberum Capital, which believes Moonpig’s shares are ‘very cheap’ on a 10% FCF (free cash flow) yield.

‘Given the reiteration of guidance today, we leave our forecasts and target price unchanged.’


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Issue Date: 27 Jun 2024