Shares in Moonpig Group (LON: MOON) dropped sharply on Wednesday after the online greetings card and gifting platform issued an AGM trading statement confirming that performance remained in line with expectations.
The stock is down 6.1%, changing hands around 244.8p, down from a previous close of 260.8p, after touching a low of 238.6p during the session.
The decline came despite Moonpig reiterating that trading since the start of its 2027 financial year, which began on 1 May 2026, has matched internal expectations, leaving the full-year outlook unchanged.
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The update showed revenue growth continuing to be driven by both order volumes and average order value, with the core Moonpig brand benefiting from an expanding active customer base and rising gift attach rates. The Dutch business, Greetz, also reported modest year-on-year growth.
The Experiences division, however, continued to show a decline in reported revenue, reflecting the managed exit from certain third-party retail partnerships, even as online gross transaction value kept growing. Management said it expects Experiences to return to year-on-year revenue growth in the second half of the financial year.
Chief executive Catherine Faiers said she was pleased with progress made so far and reaffirmed confidence in the group’s outlook, pointing to disciplined execution of its strategy.
Moonpig maintained its financial targets, including mid-to-high single digit percentage annual revenue growth, an Adjusted EBITDA margin of 25% to 27%, and double-digit growth in Adjusted earnings per share, alongside continued share buybacks.
