Moonpig has announced a 3.8% increase in revenue for the year’s first half, highlighting its resilience and innovation efforts.
- Despite a loss before tax due to impairment charges, Moonpig’s adjusted profit before tax rose by 9.0%, showing financial adaptability.
- Customer numbers surged, reaching 11.7 million, with international markets expanding rapidly, particularly in the US, Australia, and Ireland.
- Subscription services such as Moonpig Plus and Greetz Plus gained traction with a significant increase in members, demonstrating customer loyalty.
- Innovations like personalized card features underline Moonpig’s commitment to enhancing customer experience and sustaining revenue growth.
Moonpig has confirmed a 3.8% increase in revenue, reaching £158m in the first half of the year, driven predominantly by robust sales at its flagship brand. This growth comes despite ongoing challenges within its Experiences division, showcasing the company’s ability to navigate adversity.
While Moonpig faced a loss before tax amounting to £33.3m due to a significant non-cash impairment charge on Experiences goodwill, the company’s adjusted profit before tax increased by 9.0% to £27.3m. This improvement was primarily fueled by enhanced trading performance and reduced interest expenses, underscoring effective financial management.
Notably, Moonpig’s customer base expanded to 11.7 million users across its Moonpig and Greetz brands, marking a significant rise in user engagement. Concurrently, the company saw a 4.7% increase in total orders and a 2.5% rise in the average order value. International operations recorded a striking 42.5% growth year-on-year, with notable contributions from markets in the US, Australia, and Ireland.
The business’s emphasis on technology innovation remains evident through the growth in its subscription services, Moonpig Plus and Greetz Plus, which now boast 750,000 members—a substantial growth from 200,000 members the previous year. Additionally, Moonpig’s extensive database of customer occasion reminders increased to 96 million, reflecting enhanced data management capabilities.
CEO Nickyl Raithatha emphasized the company’s persistent focus on technology and innovation, highlighting features like personalized card creativity tools and the recent launch of ‘Your Personalised Handwriting.’ These initiatives are integral to Moonpig’s strategy to attract and retain customers by enhancing the card-giving experience.
Looking forward, Moonpig is determined to continue its growth trajectory by executing its transformation plan for the Experiences division, despite revising its timeline for achieving full potential in that area.
Moonpig remains committed to sustaining its growth through strategic innovation and customer-focused initiatives, aiming for long-term success.
