Investors in Moonpig headed for the exit yesterday after the online card and gift group cut its revenue forecast for the year as the cost of living crisis and Royal Mail strikes deterred consumers.
In its half-year results, the FTSE 250 group said revenue for the year would be about £320 million, down from its previous forecast of £350 million, because of challenging trading conditions and “the continued macroeconomic uncertainty”.
Postal strikes and an unflattering comparison to the surge in sales during Covid-19 lockdowns meant revenues, excluding the experience part of the business, such as hot air balloon rides, fell 8 per cent to £131 million from £142 million in the six months to the end of October.
More postal strikes are planned during the busy Christmas period
ANDY RAIN/EPA
However, Nickyl Raithatha, chief executive, remained upbeat
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