Moonpig Group PLC on Thursday reported strong financial results on the back of good customer retention.

The London-based online greeting cards and gift company said in the year that ended April 30, pretax profit rose 33% to £46.4 million from £34.9 million the previous year.

Revenue grew 6.6% to £341.1 million from £320.1 million, 89% of which came from existing customers.

Across the Moonpig and Greetz brand, card revenue alone rose 9.1%. However, attached gifting revenue grew 1.3% and standalone gifting revenue declined 15%.

Cash and cash equivalents held by the company fell 57% to £9.6 million from £22.4 million, while long term borrowings fell 31% to £118.3 million from £170.5 million.

Chief Executive Officer Nickyl Raithatha said: ‘The Moonpig Plus subscription scheme has exceeded our expectations, passing the milestone of half a million members within one year. Our investments in new artificial intelligence technologies are delivering an increasingly personalised experience for our customers. As the clear online leader in greetings cards, Moonpig group is well positioned to benefit from the long-term structural market shift to online.’

Moonpig’s outlined capital allocation policy during the year focused on investing to deliver growth as well as deleveraging.

The company said the start of financial 2025 was in line with expectations, with growth reported from both new and existing customer orders. Growth over the period as a whole is expected to be in the mid to high single-digit percentage range.

Moonpig shares were up 8.9% to 173.00 pence each in London on Thursday morning.

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