MySale has strong year as revenue rise hits double-digits
Online retailer MySale Group updated the markets on its 12-months of trading on Tuesday and had good news to share, despite the update being fairly short on detail.
The company said the year to June 30 saw revenue growth of 10% to A$295 million, combined with improvements in the gross margin. It now expects to report underlying profit on an EBITDA basis at least in line with the top end of market expectations of A$11.8 million. That would be up from A$8.7 million a year earlier.
It also said that the gross margin improvements “have been supported by the planned increase in own-buy inventory within the sales mix,” while its new international and local strategic partnerships “have continued to increase the product range available on the group's marketplace, on a low-risk third-party basis, with the available SKU count now exceeding one million.”
The 11-year-old company, which operates flash sales e-tail brands including OzSale, MySale and Cocosa, among others, has an expanding business in Australia, New Zealand, South-East Asia and the UK.
Its full-year results will be released in the first week of October but for now, CEO Carl Jackson said: “We have had another record year with double-digit revenue growth driving a material increase in underlying EBITDA. In parallel, we have made excellent progress increasing the product range available to our customers whilst further developing our proprietary financial services and subscription delivery propositions, Ourpay and Ourpay Select.”
He added that “the group continues to invest in enhancing our proprietary technology platform, which has a key role to play as volumes increase, efficiencies are unlocked and operational gearing improves. We move into the new financial year with confidence and with the expectation that our strategic plans will continue to support the group's profitable growth.”
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