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Gloucestershire Business News

Lockdown online card buying gives Moonpig double annual revenue

Online card retailer with its catchy TV jingle, Moonpig has announced a double in its annual revenue as lockdown and covid restricted people's access to high street stationers and card shops.

The company received almost 51 million transactions as high street rivals like WHSmith and The Card Factory had to shut due to the ongoing coronavirus pandemic. 

It disclosed revenue of £368.2 million over the 12 months up to April, a year we spent a lot of time inside unable to go to non-essential shops. This was up 113 per cent on the previous year. Core earnings were up by 92.1 million, an increase of 107 per cent.

As reported by Sky News, Chief executive Nickyl Raithatha said of the performance: "In the past year we have delivered an enduring transformation and step-change in the scale of our business.

"The long-term growth opportunity remains vast, with the majority of the card and gifting market still offline, and we have never been in a better position to capture this growth."

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