MySale Group PLC AGM Update (2544Y)
04 December 2017 - 6:41PM
UK Regulatory
TIDMMYSL
RNS Number : 2544Y
MySale Group PLC
04 December 2017
4 December 2017
Annual General Meeting Update
MySale Group plc (AIM: MYSL) (the "group") the leading online
retailer, is pleased to provide an update at its annual general
meeting, to be held today, at which Iain McDonald, Non-Executive
Chairman, will note;
"The current financial year has started well. Revenue growth has
accelerated versus last year, gross margins are increasing and we
continue to carefully control our cost base. This is delivering
good growth in underlying profitability, in line with management's
expectations.
"Our enhanced proprietary technology platform which was rolled
out last year is, as anticipated, supporting all areas of the
business to reach more customers and operate more efficiently. The
Ourpay buy-now pay-later solution continues to grow its subscriber
base at a pleasing rate and Identity Direct, the personalised goods
business acquired last year, has integrated well.
'The group's plans for the year are ambitious and our recent
partnerships, product verticals and technology platform
enhancements are supporting these plans and gives the board
confidence in the group's prospects for the full year."
Enquiries:
MySale Group Plc
+61 (0) 414 817
Carl Jackson, Chief Executive 843
+44 (0) 777 585
Graeme Burns, Investor Relations 4516
Zeus Capital Limited (Nominated +44 (0) 20 3829
Adviser & Joint Broker) 5000
Giles Balleny, Corporate
Finance
Benjamin Robertson, Corporate
Broking
+44 (0) 20 7496
N+1 Singer (Joint Broker) 3000
Mark Taylor, Corporate Finance
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 by offering
both retail and flash-sale websites. 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
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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