Moonpig, the popular greetings-card and gifting platform, has reported a significant increase in pretax profit for the first half of the fiscal year 2024. This growth has been attributed to higher order frequency resulting from technological advancements. The company has also reiterated its guidance for the full year.
For the six months ended October 31, Moonpig recorded a pretax profit of £18.9 million ($23.9 million), more than double the £9.1 million achieved during the same period last year. The company’s preferred metric, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), also demonstrated positive growth, rising to £41.4 million from £34.6 million. This increase can be attributed to improved gross margin and cost control measures.
Moonpig’s revenue for the period reached £152.1 million, up from £142.8 million in the previous year. The introduction of innovative technologies and new features, such as the subscription program, has resulted in consistently higher customer order frequency according to the company.
Looking ahead, Moonpig expects its performance to remain in line with expectations and maintains its focus on reducing debt. The company anticipates that revenue for the year ending April 30 will continue to grow at a mid to high single-digit percentage rate, while the adjusted EBITDA margin is predicted to remain resilient.