Moonpig Group plc has released its half-year results for the period ending 31 October 2023. Revenue grew by 6.5 per cent year-on-year to £152.1m, with adjusted profit before tax of £20.8m. Adjusted EBITDA grew to £41.1m from £34.6m reported in H1 DY23, due to improved gross margin rate and disciplined cost control.
The Moonpig brand underpinned trading performance with year-on-year revenue growth of 4.9 per cent.
Nickyl Raithatha, CEO, commented “We are pleased to report year-on-year growth in both revenue and profit despite the challenging macro-economic environment, marking the Group’s return to revenue growth. Our focus on technology is driving this growth, underpinned by our resilient, profitable and cash generative business model, leveraging our unique use of data to drive customer loyalty. We continue to innovate to attract and retain our loyal customers. During the period nearly 4 million customers used our innovative card creativity features such as audio and video messages, AI-generated text suggestions, stickers, flexible photos and digital gifting solutions. As the clear online leader in greetings cards, we remain well positioned to benefit from the long-term structural market shift to online.”
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