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Revenue rises at MySale

Revenue at Australian flash Sale etailer MySale was up 10% to A$295m (£166m) in the 12 months to 30 June 2018.

The retailer said it now expects underlying EBTIDA to fall at least in line with the top end market expectation of A$11.8m (£6.6m.)

It added that gross margin improvements had been achieved by increasing its own-buy inventory and increasing the number of products available.

Carl Jackson, chief executive officer of MySale Group, commented: “We have had another record year with double digit revenue growth driving a material increase in underlying EBITDA. In parallel, we have made excellent progress increasing the product range available to our customers whilst further developing our proprietary financial services and subscription delivery propositions, Ourpay and Ourpay Select.

“The group continues to invest in enhancing our proprietary technology platform, which has a key role to play as volumes increase, efficiencies are unlocked and operational gearing improves.”

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