MySale upbeat as new year starts strong

By

Sandra Halliday

Published
Nov 29, 2016

Online flash sale retailer MySale Group said Tuesday that its new financial year has started well with revenue growth rates similar to the second half of last year but with “substantially enhanced” gross profits.

Last year the firm, which operates sites including Cocosa, BuyInvite and MySale, ended a strong 12 months, with sales up 7%, profits up 21% and improved gross margins.

The nine-year-old London-listed e-tailer, which operates a number of different sites in Australia, New Zealand, South-East Asia and the UK, issued the update ahead of its annual general meeting (AGM).

It added that it has continued to direct more of its marketing spend in the core Australian and New Zealand (ANZ) market towards “re-engagement with lapsed or inactive customers and this has been successful in reducing cost per activation (CPA).”

It will continue to invest in its data and analytics capability over the remainder of the financial year and so “would expect to drive further improvements in marketing efficiency.”

Although it is still early in the financial year, it anticipates full-year results in the period to the end of June 2017 slightly above the top end of the current range of analysts' projections of A$8.2m to A$8.5m underlying EBITDA.