25th Nov 2015 09:45
LONDON (Alliance News) - MySale Group PLC on Wednesday said it has made a good start to the new financial year and is on track to reach profitability in the full year.
The online retailer, which delivers flash sales sites in Australia, New Zealand, South-East Asia and the UK, said it is on track to re-establish profitability in the year ending June 30, 2016, after incurring a loss the prior year, while continuing to invest in the technology platform and new markets in Asia.
''We are in good shape operationally for peak trading; the recently announced acquisition of the Grays Online businesses will give us an exciting opportunity to grow our active customer base and widen our online offer; and the customer acquisition model we have been following in Asia is beginning to prove itself. Whilst there is still much to do, this has been a very encouraging start to the year,'' Chairman Iain McDonald said in a statement ahead of the company's annual general meeting on Wednesday.
Shares in MySale were trading up 1.4% at 51.72 pence on Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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