Key facts
- Moonpig reported a 6.5% increase in revenue for the year ended April 30.
- Moonpig's revenue reached £373 million for the year ended April 30.
- Technological advancements and upselling strategies drove revenue growth.
- Profit before tax swung to £68.9 million.
- Moonpig plans a 25% dividend hike.
- Moonpig announced a £65 million share buyback program.
Moonpig has announced a significant increase in its revenue, which rose by 6.5% to £373 million for the fiscal year ending April 30. This growth was primarily attributed to the company's investments in technological advancements and the successful implementation of upselling strategies. The online greetings card retailer also reported a substantial swing in its profitability, with profit before tax reaching £68.9 million.
Building on this financial success, Moonpig has outlined plans to reward its shareholders. The company intends to implement a 25% dividend hike, demonstrating its commitment to returning value to investors. Furthermore, Moonpig has committed to a £65 million share buyback program, which is expected to reduce the number of outstanding shares and potentially boost earnings per share. These initiatives reflect a strong degree of confidence from the company's management regarding its ongoing performance and strategic direction.