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MySale expands Sports Direct tie-up as profits rise

International flash Sale business MySale Group’s profits and sales rose in its first half as it continued to build up its global customer base.

The company, which was founded in Australia but is now headquartered in London, made an underlying pre-tax profit of A$600,000 (£371,110) in the six months to 31 December 2016, up from a loss of A$200,000 (£123,700) during the same period the year before.

Its underlying EBITDA soared by 66.7% to A$3m (£1.9m). Total group revenue rose 7% to A$136.7m (£84.6m).

The net cash balance increased to A$29.1m from A$27.5m (£18m from £17m) at 30 June 2016.

The group, which includes premium UK site Cocosa, had an active customer base of 870,000 by the end of the period, up 19% year on year. Its average order value increased by 3% to A$86.

More than half of orders (58%) were made on mobile.

A strategic partnership with Sports Direct, announced last year, is now operational. MySale said that, given the size of the inventory – more than 150,000 SKUs – it is planning and testing the rollout of Sports Direct brands to its customer base in Australia and New Zealand. 

“Forging partnerships with flagship retailers such as Sports Direct is a strong endorsement of the group’s capabilities in supporting brands in establishing new sales channels as well as inventory management,” the company said.

On the wider results, MySale Group chief executive Carl Jackson added: ”We are pleased with the strong start we have made to the year. Financially, we have performed well and strategically have made good progress towards our goals. The number of active customers, online revenue and gross profit each increased substantially as our compelling consumer proposition resonated with our customers around the world.

”We carry good momentum into the historically stronger second half of the year and have a number of exciting initiatives which will support our future growth. The growth of our underlying EBITDA for four consecutive half-year periods endorses our strategic plan and we remain confident in the full year’s prospects.”

Read our interview with MySale founder Jamie Jackson

 

 

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