Moonpig raises guidance for fiscal 2022

U.K. based greeting card and gifting company Moonpig Group plc provided a performance update from April 30, 2021, to the present. The company said it is raising group revenue expectations up to approximately £270 million and £285 million; in July, Moonpig had projected lower sales of £260 million.

The company said, in a statement:

“Trading in the year to date has been strong. Frequency remains elevated following a limited change in consumer mobility through the summer, despite the lifting of lockdown restrictions. In light of this, we are raising our guidance for Group revenue in FY22, which we now expect to be between approximately £270 million and £285 million.

“We have invested at a higher rate in the long-term growth drivers of our business, including promotional activity to drive strategic levers such as app downloads and customer reminder setting, and through the development of our technology platform.

“As people return to offices and conditions normalise, the data we collect on customer behaviour will provide important insights. At the current time, our view on underlying growth trends, and our medium-term growth and margin targets, remains unchanged.”