1st Mar 2016 09:39
LONDON (Alliance News) - MySale Group PLC on Tuesday reported a narrowed pretax loss in the first half of its financial year as it reduced its overhead costs and revenue was boosted by growth in average order value and average revenue per active member.
The online retailer, which delivers flash sales sites in Australia, New Zealand, South-East Asia and the UK, said its pretax loss in the six months ended December 31 was AUD497,000, a huge improvement on the AUD21.5 million loss it made in the first half of the prior year.
Revenue grew to AUD128.2 million from AUD123.3 million, as average order value increased by 17% to AUD84 from AUD74 and average revenue per active member rose by 6% to AUD293 from AUD278.
All territories achieved growth in revenue and gross profit, MySale said, but this was most notable in South-East Asia. Profit was also helped by reduced overhead costs due to its cost savings programme.
MySale added that revenue in the first six weeks of the second half grew by 20%.
"We are pleased with the start to the second half of the year as we have seen good momentum in revenue growth. There is still a lot of hard work ahead, but we have a well invested technology, marketing, buying and distribution platform capable of supporting a much bigger business, so we look to the future with confidence," Chief Executive Carl Jackson said in a statement.
Shares in MySale were trading up 0.6% at 44.25 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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