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.”