Moonpig Prioritizes Greeting Card Sales While Maintaining Earnings Forecast

// Moonpig Reports Its Overall May Trading Performance Was In Line With Expectations
// The company said it has prioritized sales of greeting cards, which have a proven track record of resilience and will continue to do so.

Online greeting card and gift retailer Moonpig reiterated its full-year guidance and said its overall business performance from May was in line with expectations.

The company explained that in the current economic environment it has prioritized sales of cards, which have a “demonstrable track record” of resilience and said it intends to build on this momentum for the remainder of exercise.

Moonpig said average order values ​​during the period increased year-over-year, supported in particular by charts and margins remained “resilient in the absence of any significant pressure from inflation. input costs”.storyteller

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As previously reported, the retailer anticipates a return to pre-Covid seasonality and expects between 58% and 60% of revenue to be realized in the second half of the fiscal year.

“This seasonality is supported by an expected increase in the concentration of resources around our peak periods and the expected impact of the availability of software engineers for the development of new revenue-generating features following the successful migration of Greetz on the Moonpig technology platform in September 2022,” he said.

moon pig Managing Director Nickyl Raithatha said: “Moonpig Group’s business operations remain resilient and we are confident that full year revenue will be approximately double the level achieved three years ago. The group continues to offer a powerful and unique combination of market leadership positions, strong customer loyalty, high profit margins and strong cash generation.

“In the current macroeconomic environment, our continued performance reflects the strength of our data-driven business model and the long-term opportunities in our markets. Following the acquisition of the Experiences division and the successful migration of Greetz to our core technology platform, we look to the future with confidence as we execute our strategy to capture the centuries-old shift of our markets from offline to on line.

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