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MySale profits up 15%

Australian flash Sale site MySale Group has announced a 15% boost to gross profit for the six months to December 31 2015, driven by improved margins.

calvin klein on cocosa

Calvin Klein on Cocosa

The business, in which Mike Ashley and Sir Philip Green are major shareholders, said margins improved by 250 basis points during the period.

Underlying EBITDA was $1.5m (£771,855), up $12.9m (£6.63m) year on year.

The firm said there was “good sales momentum”, with good sales growth in southeast Asia in particular, which was up 8% year on year, while gross profits improved by 187%.

MySale, which also owns premium flash sales site Cocosa, added that sales in the first six weeks of 2016 were up 20% year on year.

Carl Jackson, chief executive, said: “Our focus for the first half of the financial year was to restore the business to profitability and to refocus around our simplified strategy. This was successfully achieved and we were also able to grow our revenues once again.

”We are pleased with the start to the second half of the year, as we have seen good momentum in revenue growth. There is still a lot of hard work ahead, but we have a well-invested technology, marketing, buying and distribution platform capable of supporting a much bigger business, so we look to the future with confidence. ‘’

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