Flash sale group MySale’s profits have jumped 21%, boosted by strong growth in the UK and South East Asia. The company also announced a partnership with retailer Sports Direct in Australia.
Overall revenues for the Australian group rose 7% from A$235.9m (£139.2) to A$252.3m (£148.8m) for the year to 30 June 216.
UK revenues grew by 139% from A$4.2m (£2.5m) in 2015 to A$10.0m (£5.9m). Gross profits were up 133% to A$2.05m (£1.2m), while revenues in South East Asia grew 20%, up to A$31.5m (£18.6m) from A$26.3m (£15.5m), and gross profit was up 117% to A$7.5m (£4.4m) from A$3.5m (£2.1m).
The company reported an underlying EBITDA of A$5.5m (£3.2m) – above expectations for the year so far – bouncing back from a A$9.5 (£5.6m) EBITDA loss in 2015.
Technology developments were also a focus for the group. It has enhanced its website functionality, and mobile purchases were up 2% from 2015 and now account for 58% of orders. MySale also reported a 20% increase in average order value, up to A$90 (£53) from A$75 (£44.2) last year.
A new strategic partnership with retailer Sports Direct in Australia was also announced. MySale CEO Carl Jackson said it was: “testimony to the capabilities we have to offer large retail partners. Alliances such as this will provide further catalyst to our growth plans.”
Commenting on the results, Jackson said: “We have had a very good year in FY16 and saw improved performance throughout the business. This continued improvement was driven by the team’s clear focus on improving gross margins while still providing exceptional value to customers which, in turn, was supported by the group’s proven digital marketing activity and continued technology investment.
“We have seen an encouraging start to the current financial year with performance ahead of our expectations and, although the key trading period still lies ahead, the board is confident in the group’s prospects for the year.”