Still some way off 2021’s 450p IPO (initial public offering) price, Moonpig’s (MOON) shares have rallied 63.5% to 248.9p year-to-date amid debt reduction progress and some reassuring trading updates as it puts the unwind of the Covid sales bump in the rear-view mirror.

More recently, the stock surged following a well-received capital markets day (16 October), where the online greeting cards-to-gifting platform set out its ambition to return to double-digit annual sales growth. Investors were also delighted as the cash generative company, rapidly deleveraging since 2022’s Buyagift acquisition, outlined plans to return surplus cash to shareholders, starting with an inaugural £10 million dividend for the year to 30 April 2025 and a maiden share buyback programme of up to £25 million now underway.

With the Christmas season in full swing, investors will be hoping for positive noises on current trading when Moonpig trots in with first half figures on 10 December. Management should reiterate current year guidance for mid-to-high single digit revenue growth, underpinned by order growth at the Moonpig brand famed for its earworm of a jingle.

Investors will also be looking for evidence of an upswing in fortunes at the Experiences business. Guided by CEO Nickyl Raithatha, Moonpig sees the opportunity for a return to double digit growth despite already boasting leading market shares in the UK and Netherlands, as greetings card volumes shift online, active customer numbers grow, purchase frequency increases and the company capitalises on exciting growth opportunities in both gifting and overseas markets.

UK UPDATES OVER THE NEXT 7 DAYS

FULL-YEAR RESULTS

12 Dec: Benchmark, RWS

FIRST-HALF RESULTS

10 Dec: Moonpig, Solid State

11 Dec: Cohort, Optima Health

12 Dec: 4Global, Currys, De La Rue, Gore Street Energy Storage Fund

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