Moonpig sales double

moonpig app

Moonpig has posted its first profits since being listed on the London Stock Exchange.

Profits and sales both doubled, whilst revenue rose by 113% to £368m in the year to 30 April as people spent more on cards and gifts over the pandemic.

However, shares were down 5% on Tuesday morning as Moonpig warned that customer spending was returning to normal levels.

“Our customer proposition continues to improve, with enhancements to our card and gifting ranges, and more delivery options than ever before,” said Moonpig chief executive, Nickyl Raithatha.

“The long-term growth opportunity remains vast, with the majority of the card and gifting market still offline, and we have never been in a better position to capture this growth.”

In the next year, sales are expected to grow by half and reach between £250m and £260m.