Online Gifting Company Moonpig Outperforms Targets and Eyes Further Expansion

  • Moonpig posts £51.5m profit for FY22
  • Group revenue down 17.3% YoY but up 75.8% compared to 2020
  • Expected group revenue of £350m in FY23 after Buyagift acquisition
  • Medium-term target: mid-teens percentage underlying revenue growth for the enlarged group
  • Raised medium-term Adjusted EBITDA margin rate target to 25.0% – 26.0%

Moonpig Group has reported an adjusted profit before tax of £51.5m for the year ending 30 April 2022, a 30.9% decrease from its 2021 results but a 55.2% increase compared to 2020. The group’s revenue was £304.4m, down 17.3% year-over-year but up 75.8% from 2020 figures. Moonpig expects its group revenue for FY23 to reach approximately £350m upon the anticipated completion of the Buyagift acquisition by the end of July 2022. The company aims for mid-teens percentage underlying revenue growth in the medium term and has increased its medium-term Adjusted EBITDA margin rate target to between 25.0% and 26.0%. CEO Nickyl Raithatha stated, ‘We have never been in a better position to capture the vast long-term opportunity.’

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Moonpig’s financial performance, including specific numbers and percentages, as well as the company’s outlook for future growth and plans for acquisitions. It also includes a quote from the CEO that adds context and perspective.
Noise Level: 3
Noise Justification: The article provides relevant financial information about Moonpig’s performance and future plans, including profit, revenue, and the acquisition of Buyagift. It also includes a quote from the CEO expressing confidence in the company’s outlook. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Moonpig’s stock price and the e-commerce sector
Financial Rating Justification: The article discusses Moonpig’s financial performance, including profit, revenue, and EBITDA, as well as its acquisition of Buyagift and future growth targets. This information is relevant to investors and impacts the company’s stock price and the e-commerce sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.

Reported publicly: www.retailsector.co.uk