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Moonpig H1 profits, revenue rise; Greetz returns to growth
(Sharecast News) - Online greeting card and gifts retailer Moonpig backed its full-year expectations on Tuesday as it posted a rise in first-half profit and revenue, pointing to continued momentum at the Moonpig brand and a return to growth at Greetz. In the six months to the end of October, adjusted pre-tax profit increased 11.4% to £30.5m, on revenue of £168.6m, up 6.7% on the same period a year earlier.
Adjusted earnings per share rose 13.1% to 6.9p.
Revenue at the Moonpig brand grew 9.4%, while Greetz - the Dutch business it bought in 2018 - returned to growth at 1.3% in constant currency and 3% on a reported basis.
Revenue at the Experiences segment fell 8.9% in a "challenging" trading environment, but Moonpig said recent trading has been encouraging, with an improved performance in the second half to date.
Moonpig said it remains the clear market leader in online cards in both the UK and the Netherlands, holding a 70% share of the UK online single cards market and around 65% in the Netherlands.
"These are structurally attractive, underpenetrated markets, with online card penetration still only 6% by volume and 15% by value in the UK," it noted.
Chief executive Nickyl Raithatha said: "We have delivered a strong first half, with continued momentum at the Moonpig brand complemented by a return to growth at Greetz. Customers are engaging more deeply than ever - more than 50% of customers are now using our innovative creative features to make their cards ever more personal - and our Plus subscriber base continues to grow.
"Experiences has also shown encouraging recent trading, with improved performance in the second half to date, including across Black Friday. This strong momentum across the group, together with our sustained investment in innovation, data, and AI, has underpinned our strong EPS growth."
The company also said on Tuesday that Raithatha, whose departure was announced on 26 June, is stepping down as CEO and will leave Moonpig on 31 December.
Catherine Faiers will take up her role as CEO on 2 March 2026.
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