StockMarketWire.com - Moonpig lifts its annual guidance on revenue on expectations despite a slump in first-half profit as the internet-based business forecast customer purchase frequency to remain above pre-pandemic levels.

Annual revenue for FY22 was now expected to be at the upper end of the previous guidance range of between approximately £270 million and £285 million, the company said.

'Customer purchase frequency had not yet fully normalised, but the data we now have provides us with confidence that we will exit the financial year with an enduring uplift in UK customer purchase frequency of approximately 15% compared to pre-Covid-19 levels,' the company said.

The upbeat guidance arrived alongside first-half results showing a slump in profit. For the six months to 31 October, pre-tax profit fell 43.2% to £18.7 million and revenue slipped 8.5$ to £142.6 million.

The rate of customer purchase frequency saw a month-on-month decrease as lockdown restrictions were progressively relaxed, the company said.

But compared with the pre-pandemic period, pre-tax profit was up 9.7%.




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