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Profits soar at MySale

Australian flash Sale company MySale has announced rising sales and profits for the 12 months to 30 June 2017, with EBITDA soaring by 58% to AUD8.7m (£5.3m).

In the company’s pre-close trading statement, it announced that online revenue grew 10%, to AUD240m (£157.3m) thanks to a growing active customer base. Total revenues at the company were AUD268m (£162.2m).

MySale also announced that it has entered into the preliminary testing phase of a partnership with another international retailer, following its tie up with Sports Direct last year, however it did not reveal which retailer the new partnership would be with.

Carl Jackson, chief executive officer, said: ‘’We are very pleased with the group’s progress during the year and the improved financial performance, which delivered significantly increased underlying EBITDA, in line with market forecasts. Sustained focus on our strategic goals has delivered another year of growing revenue and, more importantly, increasing profitability.

‘’The momentum carried into FY18 is strong and we have a number of exciting strategic initiatives that will support the continued growth in revenue and profitability.”

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