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MySale revenue soars 23.3% as it furthers international expansion

Australian flash Sales site MySale reported a 23.3% increase in group revenue to A$224.3m (£124.1m) for the year to June 30 as international expansion plans gain momentum.

Gross profit was up 10% for the year to A$60.4m (£33.4m). The business had an adjusted EBITDA of A$6m (£3.3m) down from A$7.1m (£3.9m) in 2013  reflecting heavy investment in launching the UK and US operations.

MySale’s membership base increased from 8.3 million to 12.5 million people during the year and the annual customer spend increased from $A261 (£144) to A$280 (£155).

The company bought defunct UK flash Sales site Cocosa in May and relaunched the site last week. Plans to expand it internationally are at an “advanced stage”. It launched MySale in the UK in July.

MySale announced this morning (September 15) that it had acquired a 60% stake in Scandinavian flash Sales site and the business also plans to launch MySale across the Nordic regions in the coming months.

During the year the business launched new sites in the UK, US, Hong Kong and South Korea, gaining an initial 250,000 subscribers.

The international expansion follows the company’s floatation on London’s Alternative Investment Market (Aim), in June which raised £35.2m.

Arcadia boss Sir Philip Green acquired a 25% stake in May and Mike Ashley’s Sports Direct has acquired a 4.8% stake in the etailer in June.

Jamie Jackson, founder and executive vice chairman at MySale, said the company delivered “strong membership growth across all regions and continues to expand further internationally.” He added: “We are well positioned to leverage additional commercial opportunities with Arcadia Group and Sports Direct.”

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