Regulatory Story
Go to market news section View chart   Print
RNS
MySale Group PLC   -  MYSL   

Pre-Close Trading Update

Released 07:03 10-Jul-2018

RNS Number : 1214U
MySale Group PLC
10 July 2018
 

                               

 

10 July 2018

MySale Group plc

(The "group")

 

Pre-Close Trading Update

 

Another record year with significant increases in revenue and underlying EBITDA

 

MySale Group plc (AIM: MYSL), the leading international online retailer, is pleased to provide a trading update for the 12 months to 30 June 2018 (''FY18''). 

 

The group expects to report underlying EBITDA at least in line with the top end of market expectations of A$11.8 million (FY17: A$8.7 million).  This performance, which represents a significant year-on-year increase in profitability, has been driven by revenue growth of 10%, to approximately A$295 million (FY17: A$268 million), combined with improvements in the gross margin.

 

Gross margin improvements have been supported by the planned increase in own-buy inventory within the sales mix, whilst the group's 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 SKU1 count now exceeding one million. 

 

The group's preliminary audited results for the financial year ended 30 June 2018 will be released during the week commencing 1 October 2018.

 

Carl Jackson, Chief Executive Officer of MySale Group, commented:

 

''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.

 

''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."

 

- Ends -

Stock Keeping Unit

 

Enquiries:

MySale Group plc

 

Carl Jackson, Chief Executive Officer

+61 (0) 414 817 843

Graeme Burns, Investor Relations

+44 (0) 777 585 4516

 

 

Zeus Capital Limited (Nominated Adviser & Joint Broker)

+44 (0) 20 3829 5000

Giles Balleny, Corporate Finance

Benjamin Robertson, Corporate Broking

 

 

 

N+1 Singer (Joint Broker)

+44 (0) 20 7496 3000

Mark Taylor

 

 

 

MHP Communications (Financial PR Adviser)

+44 (0) 20 3128 8570

Simon Hockridge

Giles Robinson

Peter Lambie

 

 

 

 

 

The information contained within this announcement is deemed to constitute inside information for the purposes of article 7 of the Market Abuse Regulation (EU) no. 596/2014.  Upon the publication of this announcement, this inside information is now considered to be in the public domain

 

 

 

About MySale Group

 

MySale is a leading international online retailer with established online flash-sales and retail websites in Australia, New Zealand, South-East Asia and the United Kingdom. Founded in 2007, the Group provides customers with access to outstanding brands and products at discounted prices whilst simultaneously providing brand partners unique international inventory and sales solutions.

 

The Group provides a marketplace solution to brands offering both retail and flash-sale website channels. The flash sales websites host time limited sales in each of its territories. These flash sales are focused on fashion, apparel, health, beauty and homeware categories and are predominantly undertaken on a consignment inventory basis. The retail websites operate in Australia and New Zealand and focus on similar product categories using mostly drop-shipped inventory.

 

Customers' shopping experiences are enhanced by the Group's deployment of leading edge technology to ensure personalised and localised product offerings. Customer convenience has been at the heart of the Group's technology development since the earliest days and now mobile commerce is the Group's main sales channel.

 

The Group's online sales are supported by a robust and flexible network of in-house supply chain infrastructure and technology that enables MySale to offer products from around the world for sale and delivery to customers in each territory.

 

As a result of these exceptional capabilities in inventory management and international sales MySale has built an enviable portfolio of over 2,500 brand partners from whom products are sourced.

 

The Group operates websites under a number of different brands all of which operate on a uniform technology platform and a single international logistics infrastructure.

 

The Group's flash sales brands are; OzSale and BuyInvite in Australia; NzSale in New Zealand; SingSale in Singapore; MySale in Malaysia, Thailand, the Philippines, the United Kingdom and Hong Kong, and Cocosa in the United Kingdom, Australia and New Zealand; whilst the Group's retail websites are Deals Direct, OO.com and Top Buy in Australia and Identity Direct in Australia and New Zealand.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
TSTRMMATMBABMLP
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Pre-Close Trading Update - RNS