MySale reports rise in full year sales and profits
MySale, the online retailer with established flash sales sites in Australia, New Zealand and South-East Asia, has reported an increase in full year sales and profits.
In the year to 30 June, the retailer’s group revenue increased by 23.3% to A$224.3 million while gross profit grew to A$60.4 million from A$54.9 million in the previous year. However, adjusted EBITDA dropped from A$7.1 million to A$6 million following heavy investment in the company’s UK and US operations.
The retailer, which floated on London’s Alternative Investment Market in June, said average revenue per active customer increased by 7.2% to A$280 per year. Its membership base also grew, rising from 8.3 to 12.5 million with over 25% of new members acquired through mobile applications. Mobile represented 56% of sales compared to 51% in the previous year.
During the period, MySale launched new sites in the UK, US, Hong Kong and South Korea, gaining an initial 250,000 subscribers. It also acquired and relaunched premium flash sales brand Cocosa in the UK and embarked on an Australian joint venture with Sports Direct which has purchased a 4.8% stake in My Sale.
Never Miss a Retail Update!Today MySale announced that it has acquired a 60% stake in Scandinavia’s leading flash sale site Invitetobuy.dk as it looks to launch MySale across the Nordic region.
Jamie Jackson, MySale founder and executive vice-chairman, said: “Following our IPO earlier this year, I am pleased to present our first set of full year results. The group has delivered strong membership growth across all regions and continues to expand further internationally. In July we launched dedicated sites in the UK and US and are preparing the Cocosa brand for further international expansion.
“Today we are pleased to announce a joint venture in Denmark with Invitetobuy and plan to launch dedicated MySale sites in the Nordic region in the coming months. We are well positioned to leverage additional commercial opportunities with Arcadia Group and Sports Direct.”
Earlier this year Arcadia Group owner Sir Philip Green acquired a 25% stake in MySale.
