Moonpig has posted steady revenue growth in the first half as its chief executive officer Nickyl Raithatha prepares to step down. 

The retailer grew revenue 6.7% year on year to £168.6m for the six months ending 31 October, while adjusted profit before tax swung from a loss last year to an 11.4% increase to £30.5m.

Adjusted EBITDA was up 7.7% to £45m, with margin expansion to 26.7%. 

Moonpig said it had seen an improved performance due to a return to growth at its Dutch retail arm, Greetz, as well as “encouraging recent trading” within its experiences division. There was also increases across active customers, reaching 12.1 million up from 11.7 million, and its reminder database (which reminds consumers to order cards for their loved ones’ birthdays and anniversaries every year) grew from 96 million to 107 million.

Raithatha, who led the group through an IPO in 2021, is set to exit from the end of this year. Current chief operating officer of Auto Trader Group Catherine Faiers will take up the role in March next year.

Raithatha said: “We have delivered a strong first half, with continued momentum at the Moonpig brand complemented by a return to growth at Greetz. Customers are engaging more deeply than ever – more than 50% of customers are now using our innovative creative features to make their cards ever more personal – and our Plus subscriber base continues to grow. Experiences has also shown encouraging recent trading, with improved performance in the second half to date, including across Black Friday. This strong momentum across the Group, together with our sustained investment in innovation, data, and AI, has underpinned our strong EPS growth.

”I am proud of what our outstanding team has built together during my seven years as CEO. Today, Moonpig Group is the leading online greeting card and gifting platform in the UK and Netherlands. We have built a resilient, cash‑generative and profitable platform with a clear strategy, a highly engaged, loyal and growing customer base and a data advantage that continues to compound year after year. With real momentum and multiple growth levers to pull, the Group is well-positioned to continue capitalising on the long-term structural shift from offline to online.”

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