Moonpig ‘permanently uplifted’ after pandemic-era boom
Moonpig is expecting its revenue for the year to be closer to its pandemic-era figure, after a series of lockdowns spurred activity at the online card maker.
The London-listed company has forecast a revenue of around £300m for the year to 30 April, it said in a trading update today, nearly double the £173m it pulled in between 2019 and 2020.
The online card maker enjoyed a revenue jump of more than 100 per cent to £368m during the pandemic, as Brits were left homebound to limit the spread of Covid-19.
It signals a “permanent uplift” in activity compared to before the pandemic, Moonpig said, which is added puts it in a confident position for the next financial year.
CEO Nickyl Raithatha said: “Today’s update reflects continued strong trading performance post-lockdowns, including a very successful UK Mothers’ Day, and we remain confident in the outlook for the year ahead.
“Moonpig Group has delivered a permanent step change in scale over the past two years, with a larger customer base displaying higher loyalty than pre-pandemic. The long-term opportunity remains vast, and we have never been in a better position to deliver against Moonpig Group’s strategy to become the ultimate gifting companion.”