// Moonpig profits took a hit during its last financial year while its sales soared 5.2%
// CEO Nickyl Raithatha said the company expected to “return to growth” during the year ahead
Moonpig full-year profits took a hit as it faced a “more challenging trading environment” from October, however the retailer expects a return to growth in its current year.
The greetings card specialist‘s pre-tax profits dipped 12.6%, narrowing to 6.9% on an adjusted basis, however its sales grew 5.2% to £320.1m over the year to 30 April.
Moonpig said trading since the start of the year was in line with its expectations. It anticipates sales will grow at a “low single digit” percentage in the first half of the year.
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Moonpig CEO Nickyl Raithatha said: “We have continued to extend our market leadership in online cards and we expect to return to growth during the year ahead, underpinned by our continued investments in our technology, marketing and operational capabilities.”
The results come as the business makes changes to drive future growth, including expanding its technology team, adding 55 new roles and introducing new features for customers.
The online retailer launched subscription service Moonpig Plus over the year and improved its product range by rolling out video messages across its card range.
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