Online flash sales business MySale has registered a jump in full-year earnings, driven by a spike in customer numbers and gross margin gains.
The Australian etailer, which boasts Arcadia tycoon Sir Philip Green and Sports Direct founder Mike Ashley among its shareholders, said its performance “improved significantly” during the 12 months to June 30 following a year of “excellent progress.”
In a brief pre-close trading update, MySale said online revenues climbed 10% to AUS$240m during the period as customer numbers increased.
Gross profit increased 14% to AUS$76m, as gross margin jumped 190bps.
Underlying EBITDA surged 58% during its second half to around AUS$8.7m – its fourth successive half year of growth.
Having already launched a tie-up with Gilt.com, MySale said it was piloting a new partnership with a “global online retailer”.
The business said the deal would open “a strong inventory pipeline and expand product selection.”
Last September, MySale started selling 150,000 Sports Direct SKUs to Australian customers after integrating MySale’s consumer website with Sports Direct’s supply chain.
MySale said it expects to grow revenues between 15% and 20% in its new financial year, to June 30, 2018, and post EBITDA “in line with market forecasts” of AUS$11.5m to AUS$11.8m.
MySale chief executive Carl Jackson said: “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.”
Jackson added: “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.”
MySale will unveil its preliminary results on September 26.
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