Moonpig trading in line, FY outlook reaffirmed

16th Sep 2026 09:10

(Sharecast News) - Online greeting cards and gifts retailer Moonpig reaffirmed its full-year outlook on Wednesday as it said trading has been in line with its expectations since the start of the year.

The company said revenue growth at Moonpig is being driven by both orders and average order value. Order growth reflects the continued expansion of the active customer base, while average order value is increasing through product upsell and modest growth in gift attach rate.

"Moonpig is progressing its multi-year strategy to increase the choice of delivery services available to customers, broadening its range across both value-based and premium next-day options," it said.

Meanwhile, Netherlands-based Greetz continues to deliver modest year-on-year growth on both a reported and constant currency basis.

The Experiences segment saw online gross transaction value continue to grow, the company said, driven by its focus on strengthening the product range. Reported revenue remains lower year-on-year, reflecting the managed exit from certain third-party retail partnerships and the reinvestment of commission revenue into an improved recipient proposition.

Moonpig said it expects revenue at Experiences to move into year-on-year growth in the second half of the year.

The company said its financial framework remains unchanged. Its goal is to deliver "sustainable, high-quality growth" supported by strong returns and consistent capital allocation. The group is targeting mid-to-high single digit percentage annual revenue growth and an adjusted EBITDA margin of 25% to 27%.

Moonpig aims to deliver double-digit percentage growth in adjusted earnings per share alongside the continued return of excess capital through share buybacks.

Chief executive Catherine Faiers said: "I am pleased with the progress we have made in the year to date and the disciplined execution of our strategy across the group. Customers continue to choose us to help them recognise life's important moments, reflecting the ongoing relevance of Moonpig's proposition.

"We are focused on investing in our platform, brands and customer experience while delivering sustainable, profitable growth. We remain confident in our outlook for the year."

At 0907 BST, the shares were down 6.8% at 244.80p, suggesting perhaps that investors had been looking for a guidance upgrade.

Russ Mould, investment director at AJ Bell, said: "Moonpig shares couldn't fly after its latest trading update failed to deliver any upgrades and highlighted the continuing drag on performance from the Experiences division.

"The share price pullback follows a strong showing for the stock in recent months after June's full-year results impressed, with the company's bumper cash flow allowing for generous share buybacks.

"Enough people are still keen to send cards to mark birthdays and other major life events, deciding a WhatsApp message or text won't do, and Moonpig still seems to be able to convince customers to part with extra cash for accompanying gifts. Given the importance of these little extras to Moonpig's strategy, investors will be watchful for any signs of a drop off as pressures on household budgets prompt a reduction in discretionary spending."

See latest RNS on Investegate