- MySale posts first-half underlying EBITDA of Aus$1.5m after loss in same period last year
- Sales up 4% to Aus$128.2m in six months to December 31
- Southeast Asia a highlight as sales up 8%
Flash-Sales etailer MySale is back in the black in its first half after being boosted by strong trading in southeast Asia.
The company, which has Sir Philip Green and Mike Ashley as backers, said underlying EBITDA was Aus$1.5m in the six months to December 31. This follows losses of Aus$11.4m in last year’s first half.
Sales in this year’s first half rose 4%.
The etailer, which operates in Australia, New Zealand, southeast Asia and the UK, said sales and gross profit increased in all territories, while margins improved by 250 basis points.
Southeast Asia was the highlight as sales rose 8%, MySale said. A lack of competition and “high mobile penetration”, along with the population’s increasing disposable income, drove the performance.
In the UK, the etailer said a refocusing on its core business meant it experienced “the first signs of encouraging growth and performance”, without giving further detail.
Chief executive Carl Jackson branded it a “good start” to the year for the group.
Looking ahead, he added: “We carry strong momentum into the second half of the year in all areas of our business and we have a platform which is capable of supporting a much bigger business.
“Southeast Asia represents a huge growth opportunity for our business.”