// Moonpig praises “resilient” performance thanks to a surge in demand ahead of Mother’s Day
// The greetings card retailer said its profit expectations remain unchanged
Moonpig recorded its largest ever week of sales ahead of Mother’s Day as trading remained “resilient” for the second half of the year.
The greetings card retailer said its expectations of adjusted EBITDA and group annual revenue remain unchanged at £320m for the year to 30 April 2023.
It said it remains “confident in the structural growth opportunity in our markets and in the fundamental strength, resilience and agility of our business”.
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Chief executive Nickyl Raithatha said: “Today’s update is testament to the resilience of our business model, as demonstrated by a record UK Mother’s Day.
“Moonpig Group’s leading market positions, strong customer retention, high profitability and robust cash generation equip us to navigate all stages of the economic cycle.
“We are excited to return to revenue growth in the year ahead, underpinned by continued investments in our technology, marketing and operational capabilities.”
Raithatha added the group was “well positioned to benefit from the long-term structural market shift to online.”
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