- Prachi Singh |
For the year ended June 30, 2018, revenue at the MySale Group plc increased by 9 percent to 292.2 million Australian dollars (206.7 million dollars) and gross profit increased by 13 percent to reach 85.7 million Australian dollars (60.6 million dollars). The company also announced that the group’s chief financial officer, Andrew Dingle, has stepped down from the board with immediate effect and that Maarit Piisila, Group Financial Controller, shall assume day-to-day responsibility for the finance function reporting directly to Carl Jackson, Chief Executive Officer.
Commenting on the results, Jackson, said in a statement: ‘’We are very pleased to deliver another set of record results, with significant increases in both our sales and profit performance for the year, demonstrating the strategic progress we have made to harness our technology platform, increase customer engagement and drive growth. While it is early in the current year, and our peak trading period lies ahead, trading to date has been in line with expectations and the board expects that underlying EBITDA for the year will be in line with market forecasts.’’
Financial highlights of MySale’s performance
The underlying profit before tax for the year increased 50 percent to 4.9 million Australian dollars (3.4 million dollars) and the company reported loss before tax for the period of 1.7 million Australian dollars compared to 1.5 million Australian dollars (1 million dollars).
The underlying profit after tax for the year increased 70 percent to is 6.6 million Australian dollars (4.6 million dollars) and the reported loss after tax for the period was 0.1 million Australian dollars against 1 million Australian dollars.
The company said, active customer base increased 9 percent to 1 million, while gross margins increased by 100bps. Average order value for the year increased 5 percent to 91 Australian dollars, while order frequency per customer increased 4 percent and items per basket increased 4 percent to 3.4 items.
The company added that current year trading in line with expectations and its board expects FY19 trading and underlying EBITDA to be in line with market forecasts.