Online greeting card retailer Moonpig said today it expects revenue for fiscal year 2021 to nearly double, helped by robust demand for its services during the Covid-19 pandemic.
"Purchase frequency remains unusually elevated due to Covid-19 related restrictions, and we are now also seeing a temporary increase in average order values, as more customers attach gifts to their orders," Moonpig said in its first trading statement after going public earlier this month at a valuation of around £1.2 billion.
Moonpig's initial public offer was the second largest UK listing this year.
It said it expects revenue for the year ending April 30 to almost double from £173m it posted for the previous year and the underlying core profit margin to be in line with the year-ago figures.
The company, which has presence in the UK and the Netherlands, said it saw its strongest ever trading week ahead of Valentine's Day this year.
