ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

MYSL Mysale Group Plc

2.255
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mysale Group Plc LSE:MYSL London Ordinary Share JE00BMH4MR96 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.255 1.51 3.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

MySale Group PLC Pre-close Trading Update (8023E)

21/07/2016 7:00am

UK Regulatory


Mysale (LSE:MYSL)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Mysale Charts.

TIDMMYSL

RNS Number : 8023E

MySale Group PLC

21 July 2016

Pre-close Trading Update

MySale Group plc (AIM: MYSL) (the Company) the leading international online retailer is pleased to provide a trading update for the 12 months to 30 June 2016 ("FY2015-16").

Highlights:

   --      Ahead of market expectations for both revenue and underlying EBITDA 

-- Underlying EBITDA(1) expected to be above current market expectations at approximately A$5 million versus consensus market forecast of A$4.7 million

-- Revenue increased by 7% to A$252 million (2015: A$235 million) for the full year following second half growth of 10%, also above current market expectations

-- Revenue growth in all territories, but notable strength in the target growth markets UK (+140%) and Asia (+20%)

-- Gross Profit increased 21% driven by a 300bp margin improvement, with growth of 26% in the second half

-- Strong balance sheet with an increased cash balance of A$34 million (31 Dec 2015: A$30 million) and underlying cash position of A$43 million, representing c 16 pence per share

(1) Underlying EBITDA: earnings before interest, taxation, depreciation and amortisation and before certain one-off items of a non-recurring nature and other non-cash items

In the second half of the financial year the Group continued its good progress. The active customer base returned to growth, core customer metrics remained robust, average order value increased and both revenue growth and margin improvement accelerated in the second half of the year, delivering full year performance ahead of expectations, despite some currency headwinds during the year.

This continued improvement was driven by the Group's clear focus on providing exceptional value to customers and supported by proven digital marketing activity and continued technology investment.

The Group has now grown underlying EBITDA in each of the last three half year periods.

All three Group territories have seen increases in revenue and gross profit however it is in South-East Asia(2) and the United Kingdom that the Group has seen the most significant rates of growth. The Group's strategy for these, newer, territories has been firstly to grow the active member base and then to build profitability.

(2) South-East Asia: Hong Kong, Malaysia, Singapore, Philippines and Thailand

The refocus on the Group's core business instigated in early 2015 has delivered particularly strong results in the United Kingdom where revenue grew by 140% over the course of FY2015-16, accelerating to over 200% in the second half. The United Kingdom trades predominantly under the premium Cocosa brand, which has resonated strongly with consumers, and has been acquiring and converting customers at the fastest and most cost effective rate of all the Group's territories. There is an enormous opportunity to grow the business in the United Kingdom and the Group plans to increase investment in customer acquisition and grow the customer base.

The Group completed its acquisition of the customer lists and IP of the Australian online retail business at the end of January 2016 and subsequently these retail websites were successfully re-platformed and integrated with the Group's operations. This acquisition is important in three regards. Firstly, it grows the Group's ANZ(3) active customer base, and secondly, it accelerates the Group's development of its retail marketplace capability, focussed on complementary product categories, which provides a good base for further growth in FY2016-17 and beyond. Thirdly, it demonstrates the Group's ability to efficiently integrate acquisitions onto the Group's technology and operational platforms.

(3) Australia and New Zealand

The Group had a considerably better year in FY2015-16 with significantly improved operational performance and good progression against its strategic aims. We built on a solid first half with further improvements in the second half and the challenge now is to take the current momentum and execute on the real and exciting opportunities the Group has to grow the business significantly further.

The Group's diversified international operations should be well insulated from any uncertainty associated with the United Kingdom's prospective exit from the EU and in the immediate term the Group will experience a slight benefit from a weaker GBP Sterling exchange rate. Additionally the Group's core customer offer of compelling, discounted value in branded products should be highly relevant for consumers in tightening economic conditions.

Enquiries:

 
 MySale Group plc 
  Carl Jackson, Chief Executive     tel: +61 (0) 414 
                                    817 843 
 Graeme Burns, Corporate          tel: +44 (0) 777 
  Development Director             585 4516 
 Zeus Capital Limited             tel: +44 (0) 20 
  Nick How/Giles Balleny,          3829 5000 
  Corporate Finance 
  Benjamin Robertson, Corporate 
  Broking 
 Maitland                         tel: +44 (0)20 
  Dan Yea                          7379 5151 
 

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's 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 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 3,000 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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTRMMMTMBTTTBF

(END) Dow Jones Newswires

July 21, 2016 02:00 ET (06:00 GMT)

1 Year Mysale Chart

1 Year Mysale Chart

1 Month Mysale Chart

1 Month Mysale Chart

Your Recent History

Delayed Upgrade Clock