Greetings Card Group Expects Low Single-Digit Growth in H1 FY24
- Moonpig’s pre-tax profits fell by 6.9% to £48m
- Revenue increased by 5.2% to £320.1m
- Gross margins grew 6.8% to 56.1%
- Adjusted EBITDA rose 12.4% to £84.2m
- Moonpig expects low single-digit revenue growth in H1 FY24
- Mid to high single-digit growth for full financial year
- EBITDA margin remains resilient
- CEO Nickyl Raithatha highlights the company’s data-driven approach and market leadership
Moonpig, the greetings card group, has reported a decrease in pre-tax profits of 6.9% to £48m for the year ended 30 April despite an increase in revenues by 5.2% to £320.1m. Gross margins increased by 6.8%, reaching 56.1%. Adjusted underlying earnings (EBITDA) rose by 12.4% to £84.2m. The company stated that trading since the start of the year has been in line with its expectations. Looking ahead, Moonpig anticipates pro forma revenue growth at a low single-digit percentage rate in the first half of FY24, driven by the Moonpig brand’s continuous growth since March. For the full financial year, consolidated revenue growth is expected to be within a mid to high single-digit range, with all brands returning to growth during the second half. The adjusted EBITDA margin is predicted to remain resilient. CEO Nickyl Raithatha emphasized the company’s data-driven approach and market leadership, as well as its flexibility in adapting to dynamic economic conditions. He also mentioned their focus on innovation through video messages, personalized content, and gift experiences within cards, extending their online card market dominance. Moonpig expects growth in the upcoming year due to investments in technology, marketing, and operations.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Moonpig’s financial performance, including profits, revenues, and growth expectations. It also includes a quote from the CEO that supports the company’s outlook on future growth and market positioning.
Noise Level: 3
Noise Justification: The article provides relevant financial information about Moonpig’s performance and outlook, with a focus on the company’s resilience and growth potential in the online greeting card market. It includes quotes from the CEO that offer insights into their strategy and future plans. However, it lacks in-depth analysis or exploration of broader industry trends or implications.
Financial Relevance: Yes
Financial Markets Impacted: Moonpig’s stock price and other greeting card companies
Financial Rating Justification: The article discusses Moonpig’s financial performance, including profits, revenues, and expectations for future growth. This directly pertains to financial topics and can impact the company’s stock price as well as other greeting card companies in the market.
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.
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