Online greetings card company Moonpig has reported a 8.5% drop in first-half revenue after the reopening of high street rivals that were forced to close in the same time a year ago.
Revenue for the six months to the end of October of £142.6m, however, was still more than double the level of two years ago, which the company said reflected growth in customer numbers, order frequency and gifting.
It said today it now expected its annual revenue for the full year to be at upper end of its previous guidance range of between £270-285m.
The company said it delivered 19.5 million orders in the six month period.
It reported adjusted core earnings of £35m, down 15.1% year-on-year, with a margin of 24.5%, consistent with its target range of 24% to 25%.
