16th Jan 2020 13:44
(Alliance News) - MySale Group PLC on Thursday said it expects to report mixed performance in the first half of its current financial year following a reorganisation last year.
The Australian online retailer said revenue in the six months to the end of 2019 was in line with expectations, at AUD71.9 million, as it continues to transition to an inventory-light marketplace platform.
The Sydney-based company said it is building on the "important" steps taken to simplify, reorganise and recapitalise the business last year. This involved a restructuring of the supply chain and relaunching brand partners on the inventory light marketplace platform. It also meant closing its UK and US operations.
MySale also said it expects to report underlying loss before interest, tax, depreciation and amortization of AUD3.6 million.
In the six months to the end of 2018, the company posted revenue of AUD126 million and underlying Ebitda loss of AUD5.0 million.
"Having taken some critical steps last year to restructure the group for the future, we're pleased to see our counter-seasonal offering beginning to resonate with a number of our brand partners who have relaunched on our marketplace platform over the last six months," said Chief Executive Carl Jackson.
"We will continue to drive this momentum in Australia and New Zealand, with our inventory light marketplace, through our new organisational structure and simplified business model, and will look to deliver further progress over the second half," added Jackson.
MySale shares were untraded on AIM in London on Thursday, last closing at 4.16 pence each.
By Evelina Grecenko; [email protected]
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