Australia's MySale posts 5% increase in FY revenue
Mysale, the leading Australian e-tailer partly held by Arcadia owner Sir Philip Green, has announced its preliminary results for the full year to June 30 2015.
Revenue rose by 5% in the period, up to A$235.9m. There was an underlying loss of A$11.2m for the financial year in line with guidance (2014: underlying EBITDA profit of A$5.9m.) In the second half, the company returned to profitability with underlying EBITDA of A$0.2m.
At year-end, MySale had a strong balance sheet with a cash balance of A$39.9m. During the period, MySale successfully launched in the UK and Hong Kong. The company also saw a continued increase in sales via mobile channel, which now represents 55% of orders, up from 51% in 2014.
Carl Jackson, Chief Executive of MySale Group commented:
"Following a year of some challenges in FY2015 we look forward with optimism to FY2016. The Group undertook a number of actions at the time of our half year that refocussed all our resources on our core business. This delivered a return to modest profitability in the second half and we continue to focus on these initiatives in the financial year to June 2016."
"Our aim for FY2016 is to continue on our path of improving underlying EBITDA. The Group established a profitable path in the second half of FY2015 and it is anticipated this momentum will continue into the first half of the current year. Whilst sales growth is clearly central to this, we are also focused on driving our gross margin higher and carefully controlling our operating costs."
A$1 = £0.46 / US$0.70 / €0.62
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