MySale has good trading year, tests new partnership with "global online retailer”
Flash sales specialist MySale Group said its “financial performance improved significantly” in the year to June 30 with online revenue up 10% to A$240 million, driven by the growing active customer base.
And it has lots of potential for the future as a partnership with an as-yet-unnamed global e-tailer begins testing.
The company, which has strong operations in Southeast Asia, Australia and New Zealand, and an expanding UK presence, said it improved gross profit by 14% to A$76 million last year. That happened as gross margins increased 190bp, with an accelerating rate across the second half. And underlying profit on an Ebitda basis surged 58% to A$8.7 million.
The firm also said its partnership with Gilt.com has launched and is “progressing as planned”. Last year the company also linked up with UK-based sports giant Sports Direct. But what about that new partnership? We don’t know the name of the company yet but it said it’s working “with a global online retailer” and the venture has “started in test phase, which will open a strong inventory pipeline and expand product selection.”
MySale also said that the integration of Identity Direct, acquired in Q4, is progressing well and performing in line with expectations.
All of which makes the company confident that the year to June 30 2018 will be as strong as the last year with revenue growth of 15%-20% anticipated and underlying Ebitda in line with market forecasts of A$11.5-A$11.8 million.
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