MySale Group PLC Pre-close Trading Update (9582Z)
16 January 2020 - 6:00PM
UK Regulatory
TIDMMYSL
RNS Number : 9582Z
MySale Group PLC
16 January 2020
16 January 2020
MySale Group plc
(the "Company", "MySale" or the "Group")
Pre-close Trading Update
MySale (AIM: MYSL), a leading international online retailer,
today provides a trading update for the six months to 31 December
2019.
Highlights:
-- Revenue of $71.9m in line with management expectations as the
Group transitions to an Inventory Light Marketplace Platform
-- Underlying EBITDA loss of $3.6m
-- Net cash of $7.2m Debt Free
-- 170 brand partners relaunched on the Group's marketplace platform
The Group continues to trade in line with management
expectations, building on the important steps taken to simplify,
reorganise and recapitalise the business last year. This has
involved a restructure of the supply chain and relaunching brand
partners on the Group's Inventory-Light Marketplace Platform, where
they can benefit from MySale's counter seasonal proposition.
Following the decisive actions taken by management in 2019, the
Group now operates on a debt-free basis, with a net cash balance of
$7.2m at period end. The Board continues to closely monitor the
Group's cost base, with further opportunities identified in the
second half
Carl Jackson, CEO of MySale, commented:
"Having taken some critical steps last year to restructure the
Group for the future, we're pleased to see our counter-seasonal
offering beginning to resonate with a number of our brand partners
who have relaunched on our marketplace platform over the last six
months.
"We will continue to drive this momentum in ANZ, with our
inventory light marketplace , through our new organisational
structure and simplified business model, and will look to deliver
further progress over the second half."
Enquiries:
MySale Group plc
Carl Jackson, Chief Executive Officer +61 (0) 414 817 843
N+1 Singer (Nominated Adviser and Broker) +44 (0) 20 7496 3000
Mark Taylor
Justin McKeegan
Carlo Spingardi
MHP Communications (Financial PR Adviser) +44 (0) 20 3128 8570
Simon Hockridge
Giles Robinson
Pete Lambie
About MySale
MySale is a leading international online retailer with
established retail websites in Australia, New Zealand and
South-East Asia. Founded in 2007, the Group provides customers with
access to outstanding brands and products at discounted prices
whilst simultaneously providing brand partners with unique
international inventory and sales solutions.
The Group operates an Inventory Light Marketplace Platform in
ANZ and SE Asia for domestic and international brands and offers a
number of solutions for brands including Just in Time [JIT]
Fulfilment By Mysale [FBM] and Drop Ship [DS].
MySale's core product categories are womenswear, menswear,
footwear, sports, health & beauty, homewares, technology and
personalised gifts. Customers' shopping experiences are enhanced by
the Group's deployment of leading edge technology to ensure
personalised and localised product offerings.
The Group operates 12 websites in five countries; OzSale,
BuyInvite, DealsDirect, OO, Top Buy and IdentityDirect in
Australia; NzSale, Buyinvite and IdentityDirect in New Zealand;
SingSale in Singapore, and MySale in Malaysia and Hong Kong.
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END
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