This ad will be closed automatically in X seconds.

Moonpig profits leap since its IPO

The online greeting cards and gift retailer has seen its sales and profits increase in its first set of full-year results since floating on the London Stock Exchange.

Moonpig has seen its profits soar 125% in its first set of full-year results since it floated on the London Stock Exchange.

The online greeting cards and gift retailer also reported a 113% year on year increase in revenue to £368.2 million for the financial year ending 30 April. Profit before tax reached £74.6 million.

It also reported adjusted EBITDA of £92.1 million, ahead of expectations at the time of the float earlier in the year and at the top end of its guidance in February, said Retail Gazette.

Moonpig said it expected sales in the 2022 financial year to be approximately £250 million to £260 million. This would represent growth of around 45% to 50% compared to 2020 financial year.

“The past year was a milestone year for Moonpig Group as we accelerated the delivery of our strategy to become the ultimate gifting companion, doubled both revenue and adjusted EBITDA, dispatched over 50 million customer orders and floated on the London Stock Exchange,” commented Nickyl Raithatha, cheif executive at Moonpig.

“Our customer proposition continues to improve, with enhancements to our card and gifting ranges, and more delivery options than ever before. In the past year we have delivered an enduring transformation and step-change in the scale of our business.”

Nickyl continued: “The long-term growth opportunity remains vast, with the majority of the card and gifting market still offline, and we have never been in a better position to capture this growth.”

Want to read more news like this? Simply sign up to our daily digest in the box below. You can also follow @LicensingSource on Twitter and @licensing_source on Instagram.

MORE NEWS
NetflixRD500x500
 
The takeover of The Roald Dahl Story Company means it will now become a division of the streaming giant with plans to create a 'unique universe'....
Disney+Day500x500
 
“The inaugural Disney+ Day will be a grand-scale celebration of our subscribers across the entire company."...
Quizwinners19500x500
 
The quiz will take place on Thursday 14 October in the Thomas Lord Suite at Lord’s cricket ground....
JBadvent500x500
 
A new 12 Days of James Bond advent calendar is launching on the 007store.com, which is managed by Event Merchandising....
AquaRock500x500
 
The company has partnered with ethical fashion brand, Aqua & Rock on a new collaboration which is aiming to champion sustainability in fashion....
Balenciaga500x500
 
The new Balenciaga Fit Set has been inspired by authentic archival looks from the luxury fashion house....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.