TIDMMYSL
RNS Number : 1132M
MySale Group PLC
26 July 2017
26 July 2017
Pre-close Trading Update
MySale Group plc (AIM: MYSL) (the "group") the leading online
retailer, is pleased to provide a trading update for the twelve
months to 30 June 2017 ahead of the publication of the group's
Preliminary Results on 26 September 2017.
During the year financial performance improved significantly and
there was excellent progress against the group's strategic
goals.
Highlights
Financial
-- Online(1) revenue grew by 10%, to A$240 million, driven by the growing active customer base
-- Gross profit increased 14% to A$76 million, as gross margins
increased 190bp, with an accelerating rate across the second
half
-- Underlying(2) EBITDA increased, for the fourth successive
half year, by 58% to approximately A$8.7 million
Strategic
-- Partnership with www.gilt.com launched and progressing as planned
-- New partnership, with a global online retailer, started in
test phase, which will open a strong inventory pipeline and expand
product selection
-- Integration of Identity Direct, acquired in Q4, progressing
well and performing in line with expectations
Outlook
-- Board confident in prospects for the current year, to 30 June
2018, with revenue growth of 15-20% anticipated and underlying
EBITDA in line with market forecasts of A$11.5 - 11.8 million
Carl Jackson, Chief Executive Officer commented;
"We are very pleased with the group's progress during the year
and the improved financial performance, which delivered
significantly increased underlying EBITDA, in line with market
forecasts. Sustained focus on our strategic goals has delivered
another year of growing revenue and, more importantly, increasing
profitability.
"The momentum carried into FY18 is strong and we have a number
of exciting strategic initiatives that will support the continued
growth in revenue and profitability.
"Our new partnership with another global online retailer is an
endorsement of the strength and quality of our international
platform and demonstrates further progress in our strategy of
working with global brands and retailers. "
(1) Online: the group's online web-based retail activities
(A$240 million of total group revenue A$268 million)
(2) Underlying EBITDA: earnings before interest, taxation,
depreciation and amortisation and before non-recurring and certain
non-cash items
All figures subject to audit
Enquiries:
MySale Group plc
Carl Jackson, Chief Executive Officer +61 (0) 414 817 843
Graeme Burns, Corporate Development Director +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
Maitland +44 (0) 20 7379 5151
Dan Yea
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's 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 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
Australia, New Zealand 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 company news service from the London Stock Exchange
END
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