We have a strong financial model, with revenue growth underpinned by loyal customers, high profit margins and robust cash generation.
FY24 financial highlights:
- Revenue growth of 6.6% to £341.1m, underpinned by the Moonpig brand.
- Adjusted EBIT growth at 13.2% to £78.1m (FY23: £69.0m).
- Reported profit before taxation increased by 32.9% to £46.4m (FY23: £34.9m).
- Basic EPS for FY24 was 10.0p (FY23: 7.8p).
- Adjusted Basic EPS was 12.7p (FY23: 13.1p).
FY24 operational highlights:
- Moonpig Plus subscriptions reached half a million members and Greetz Plus launched.
- Database of customer occasion reminders grown to 90 million (April 2023: 84 million).
- Gift recommendation algorithms now incorporate customer-level data including gift price preferences, alongside data from personalisation of the greeting card.
- Our creativity features were used over 10 million times to add video and audio messages, “sticker” images, digital gift vouchers and AI‑driven customised messages to the inside of greeting cards.
- App penetration of orders at Greetz increased to 33% as at April 2024.
- Launch of AI semantic search capability, delivering more relevant and accurate search results.
- Upgrade to our recommendation algorithms to incorporate customer-level data including gift price preferences.
- A tailored online journey for every user, including personalised homepage banners and personalised promotions.
- Increase in automated customer service resolutions through AI chatbot deployment.
- Targeted testing underway to identify profitable ways to scale marketing activity in new geographical markets. Total revenue in Ireland, Australia and the US grew by 34.3% to £8.7m (FY23: £6.5m).
- Same-day digital gifting launched on Moonpig, combining gift experiences with e-cards.
- Re-platforming of Red Letter Days and Buyagift is on track with new gallery and landing pages launched.
Key FY24 figures
The UK and the Netherland are our current core markets. Based on the customer’s country selection on the website or app at the time of order:
- 82% of our revenue is from the United Kingdom (FY23: 81%).
- 15% of our revenue is from the Netherlands (FY23: 17%).
- 3% of our revenue is from Ireland, Australia and the US (FY23: 2%).
Our strategy is to become the ultimate gifting companion:
- Gifting share of Group revenue is 50% (FY23: 51%).
- We sold 48.8m cards and gifts Y24 (FY23: 49.0m).
- Moonpig and Greetz customers placed 33.9m orders (FY23: 33.8m).
We have a broad and balanced customer demographic:
- 40% of our users are under 35 (FY23: 40%).
- 36% of our users are aged between 35 and 55 (FY23: 38%).
- 24% of our users are over 55 (FY23: 22%).
- 41% of our users are male (FY23: 44%).
- 59% of our users are female (FY23: 56%).
We use data and technology to create loyal customer relationships:
- We employee 242 skilled data scientists, analysts, and engineers (FY23: 250).
- Our database of customer occasion reminders increased to 90 million (April 2023: 84 million).
- Our creativity features were used to personalise the inside of over 10 million greeting cards.