Moonpig has posted a 3.8% increase in revenue for the first half of the year, reaching £158m, driven by strong sales at its Moonpig brand.

Revenue grew 10% year-on-year, helping the online retailer maintain positive momentum despite ongoing challenges in its experiences division.

Adjusted EBITDA edged up to £41.8m from £41.4m the previous year, and adjusted EBITDA stood at 26.5%. But Moonpig reported a loss before tax of £33.3m, a decline from a profit of £18.9m a year ago, due to a £56.7m non-cash impairment charge in its experiences division.

Adjusted profit before tax rose by 9.0% to £27.3m, driven by growth in trading and lower interest costs.

The online retailer’s active customer base across both Moonpig and Greetz grew to 11.7 million, up from 11.3 million the previous year, while total orders increased by 4.7%, up 2.5% in value terms.

International revenue recorded a sharp uplift, bolstered by strong performances in the US, Australia, and Ireland, up 42.5% year-on-year.

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During the period Moonpig Plus and Greetz Plus subscription services reached 750,000 members overall, up from 200,000 last year.

The business also highlighted its growing database of customer occasion reminders, which reached 96 million as of October 2024, up from 82 million the previous year.

Despite the ongoing macroeconomic challenges, Moonpig said it expects to meet its full-year revenue guidance and continue its trajectory of growth, targeting double-digit revenue growth and improved adjusted EBITDA margins in the medium term.

CEO Nickyl Raithatha said: “We are pleased to report continued growth in revenue for the group, driven by double-digit revenue growth at the Moonpig brand. Moonpig’s performance has been underpinned by robust growth in order volumes, powered by our multi-year investments in technology and innovation and the structural market shift to online. Raising our medium-term profit margin target demonstrates our confidence in the outlook for the business.”

He added: “We continue to innovate to attract and retain our loyal customers. To date, over 17 million innovative card creativity features have been used to customise our cards, including audio and video messages, AI-generated text suggestions, stickers, flexible photos, and digital gifting solutions.”

Raithatha also discussed its recent AI-driven innovations, including the launch of “Your Personalised Handwriting,” which allows customers to add their own handwriting to cards. “This launch is a key step in our roadmap of innovative features, leveraging emerging AI technologies to enhance the card-giving experience,” he said.

Looking ahead, Moonpig continues to focus on executing its transformation plan for Experiences, although the business has revised its timeline for fully realising the division’s growth potential.