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MySale on track to return to profit this year

Australian flash Sale site MySale has said it is trading well and on track to return to a profit this year.

The company made an EBITDA loss of A$11.4m (£5.7m) for the six months to December 31 2014, but said - a year later - it is now profitable.

In a statement released ahead of its annual general meeting today, MySale’s non-executive chairman Iain McDonald said: “We have made a good start to the new financial year. Our focus remains on re-establishing our profitability over the course of this financial year while continuing to invest in our technology platform and new markets in Asia.

“I am pleased to say that we are on track to achieve this - the business is profitable year to date, in line with our expectations, in contrast to the substantial losses incurred for same period last year.

‘’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.

“While there is still much to do, this has been a very encouraging start to the year.’’

MySale bought rival sites, Deals Direct and Top Buy from the fellow Australian ecommerce group Grays for A$5.3m (£2.4m) in October.



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