Moonpig Group plc (LON:MOON), the leading online greeting card and gifting platform in the UK and the Netherlands, is holding its Annual General Meeting today. In advance of this, the Group provides an update on its performance for the current financial year (commencing 1 May 2023) to date.
Trading remains in line with expectations and we reiterate existing guidance. We continue to deliver innovation for our customers and are encouraged by adoption levels for new features, including our Moonpig Plus subscription service in the UK, the Greetz app in the Netherlands, and creative card features, such as video messages, across both brands. The work to re-platform our Experiences business is progressing well, with several segments of the user journey already upgraded.
In the context of the continued challenging macroeconomic environment, we continue to expect pro forma revenue to grow at a low single digit percentage rate in the first half of the current financial year, underpinned by the Moonpig brand, which remains in growth. For the full financial year, we continue to expect consolidated revenue growth at a mid to high single digit percentage rate, with all our brands returning to growth in the second half. Adjusted EBITDA margin is expected to remain resilient.
