MySale expects earnings to hit top end of market expectations
Mysale Group
2.25p
13:49 29/11/22
Online retailer MySale expects to see underlying earnings end the year in-line with the top end of market expectations when it reports audited results on 1 October.
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MySale anticipates that underlying earnings before interest, tax, depreciation and amortisation will "at least" come in-line with the top end of market expectations at AUD $11.8m (£6.62m), a marked improvement on the previous year's figure of AUD $8.7m.
The AIM-listed group said its performance, which represented a "significant year-on-year increase in profitability", had been driven by revenue growth of 10% to approximately AUD $295m, combined with improvements in its gross margin.
Gross margin improvements had been supported by MySale's planned increase in own-buy inventory within its sales mix, whilst its new international and local strategic partnerships also continued to increase its product range on a low-risk third-party basis.
Carl Jackson, chief executive of MySale, said: "We have had another record year with double-digit revenue growth driving a material increase in underlying EBITDA."
"In parallel, we have made excellent progress increasing the product range available to our customers whilst further developing our proprietary financial services and subscription delivery propositions, Ourpay and Ourpay Select," added Jackson.
As of 1400 BST, MySale shares had shot up 15.53% to 69.2p.