29th Sep 2015 08:50
LONDON (Alliance News) - MySale Group PLC on Tuesday reported a narrowed pretax loss in its recently-ended financial year, as sales grew and it booked lower expenses.
The online retailer, which delivers flash sales sites in Australia, New Zealand, South-East Asia and the UK, said its pretax loss in the year ended June 30 narrowed to AUD21.5 million from AUD62.1 million the year before. Revenue rose 5% to AUD235.9 million from AUD224.4 million.
In the prior financial year, MySale suffered a AUD51.3 million fair value loss relating to preference shares, which did not repeat in the financial year 2015.
''Our aim for the full year 2016 is to continue on our path of improving underlying earnings before interest, tax, depreciation and amortisation. The group established a profitable path in the second half of the full year 2015 and it is anticipated this momentum will continue into the first half of the current year. Whilst sales growth is clearly central to this, we are also focused on driving our gross margin higher and carefully controlling our operating costs," Chief Executive Carl Jackson said in a statement.
Shares in MySale were trading down 3.7% at 52.50 pence Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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