Online greetings card company Moonpig sees revenues drop as rivals reopen shops

The company, which delivered 19.5m orders in the period, reported adjusted core earnings of £35m, down 15.1% year-on-year

Moonpig, which listed on the stock market in February, accounts for nearly two-thirds of the online greetings card market in Britain and the Netherlands. Picture: Pavlo Gonchar/SOPA Images/Shutterstock 

British online greetings card company Moonpig has reported an 8.5% drop in first-half revenue after the reopening of high-street rivals that were forced to close in the same period a year ago.

Revenue for the six-month period to the end of October of £142.6m (€167m), 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.