Moonpig Group PLC (LSE:MOON) provided a confident assessment of prospects as it weighed in with full-year profits comfortably in line with forecasts.
The online card and gifts group saw adjusted earnings grow by 13.5% to £95.5 million on revenues of £341.1 million (up 6.6%) in the 12 months ended April 30. This translated to a nearly 33% increase in reported profit to £46.4 million, while the business generated £74.2 million in cash.
Ahead of the numbers, Deutsche Bank predicted full-year revenue of £337 million, up 5.2% year-on-year, with underlying profits [adjusted EBITDA] of £92.9 million and pre-tax profits of £47.8 million.
CEO Nickyl Raithatha said Moonpig's performance had been "driven by our multi-year investments in technology and innovation, which continue to foster extraordinary customer loyalty".
Investors were told that trading had been in line with management forecasts and said it expects revenues to grow at a mid to high percentage rate in the current year.
Medium-term Moonpig is targeting double-digit percentage annual revenue growth, an adjusted EBITDA margin rate of 25% to 26% and growth in adjusted earnings per share at a mid-teens percentage rate.
"Our business is well-positioned to deliver sustained growth in revenue, profit and free cash flow, driven by our continued focus on data and technology," the company said.