MySale Group PLC Trading Update (8605C)
25 January 2018 - 6:00PM
UK Regulatory
TIDMMYSL
RNS Number : 8605C
MySale Group PLC
25 January 2018
25 January 2018
Trading Update - Record First Half
MySale Group plc (AIM: MYSL) (the "group") the leading
international online retailer, is pleased to provide a trading
update for the six months to 31 December 2017.
Highlights
-- Underlying EBITDA[1] grew 80% to a record A$5.5 million (H1 FY17: A$3.0 million)
-- Gross Profit increased 19% to c. A$45.7 million (H1 FY17: A$38.4 million)
-- Gross Margin increased 200 bps to 30.1% (H1 FY17: 28.1%)
-- Revenue increased 11% to c. A$152.0 million (H1 FY17: A$136.7 million)
-- Guidance for full year of underlying EBITDA at least at the top end of market expectations
Total active customer numbers grew by 12% and the rollout of new
features on the group's marketplace platform combined with new
international and local strategic partnerships has continued to
increase the product range on a low risk third party basis.
The group's proprietary 'buy-now, pay-later' solution, Ourpay,
now accounts for 18% of orders and has improved AOV[2] and
conversion rates. We are exploring how we might further
commercialise this product by working with third party
retailers.
For the sixth consecutive half year gross margins increased and
a 200bp improvement contributed to the 19% uplift in gross profit
to A$45.7 million (H1 FY17: A$38.4 million). The group's sourcing
initiatives, including increased own-buy inventory are key drivers
of the continuing increase in margin.
This strong first half performance means underlying EBITDA will
be significantly higher, by 80%, than the prior year at c. A$5.5
million (H1 FY17: A$3.0 million).
The Board is very confident in current year prospects and
notwithstanding continued investment into customer acquisition,
technology and service anticipates underlying EBITDA for the year
will be at least at the top end of market expectations.
Carl Jackson, Chief Executive Officer commented;
"We have had a record first half with the growth in underlying
EBITDA of 80% underpinned by double digit online revenue growth and
robust gross margins.
"In parallel we continued to make excellent progress scaling the
product range available to customers within our marketplace
platform whilst also developing further our proprietary financial
services and subscription delivery propositions, Ourpay and Ourpay
Select.
"We have made a great start to the year and approach the second
half with confidence and with an exciting range of strategic
options ahead"
Enquiries:
+61 (0) 414
MySale Group Plc 817 843
Carl Jackson, Chief Executive +44 (0) 777 585
Graeme Burns, Investor Relations 4516
Zeus Capital Limited (Nominated
Adviser & Joint Broker)
Giles Balleny, Corporate
Finance
Benjamin Robertson, Corporate +44 (0) 20 3829
Broking 5000
N+1 Singer (Joint Broker) +44 (0) 20 7496
Mark Taylor, Corporate Finance 3000
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.
[1] Underlying EBITDA: earnings before interest, taxation,
depreciation and amortisation and before non-recurring and certain
non-cash items
[2] AOV: average order value
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBIMTTMBJTTFP
(END) Dow Jones Newswires
January 25, 2018 02:00 ET (07:00 GMT)
Mysale (LSE:MYSL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mysale (LSE:MYSL)
Historical Stock Chart
From Apr 2023 to Apr 2024