Moonpig Group PLC (LSE:MOON) shares flew 7.3% higher to 226p after it announced plans for a further £65 million share buyback programme for its next financial year as it reported trading in line with expectations for the year to April.
The online greetings card and gifting company said it expects adjusted earnings per share growth to come in at the top end of its 8% to 12% guidance range for the year ending 30 April 2026, helped by strong cash generation and the benefit of existing buybacks.
Underlying profits (EBITDA) was said to be on track to grow by a mid-single digit percentage, with Moonpig's UK business delivering high single digit revenue growth.
Netherlands-based Greetz has maintained low single-digit revenue growth in constant currency terms, while the group's Experiences division has traded slightly ahead of expectations, though still faces a mid-single digit percentage revenue decline for the full year.
Moonpig said it remains on course to complete its current £60 million buyback by the financial year-end. Net debt is running at around 1.1 times adjusted EBITDA.
New chief executive Catherine Faiers, who joined in March, said she was confident the group is "well positioned to deliver sustained growth over the years ahead."
Peel Hunt analyst Jonathan Pritchard said: "Moonpig's core trading has been strong, staying up in the high single digits."
Greetz has been "solid", and Experiences have "shown a bit of recovery".
The plans for a further £65 million share buyback "was expected, but its announcement is a nod to management's confidence".
** UPDATE: Adds shares and broker comment **