MySale Group: FY17 pre-tax profit jumps 226 percent

MySale Group in its audited preliminary results announcement for the year to June 30, 2017 said that underlying basic earnings per share increased 500 percent to 2.5 cents, while underlying EBITDA increased by 59 percent to 8.7 million Australian dollars (6.8 million dollars). Underlying profit before tax increased 226 percent to 3.3 million Australian dollars (2.6 million dollars).

Commenting on the company’s annual trading, Carl Jackson, Chief Executive Officer said in a media statement: ‘’We are very pleased with the group’s progress during the year and the improved financial performance, which delivered significantly increased underlying EBITDA. This year has started well with revenue growth accelerating from last year and strong growth in underlying profitability. Whilst our peak trading period is still ahead of us we expect that underlying EBITDA for the year will be at least in line with the upper end of market expectations.’’

FY17 revenues rise 6 percent

The company's Online revenue grew by 10 percent to 238 million Australian dollars (188 million dollars), while group revenue grew 6 percent or 9 percent CER to 268 million Australian dollars (212 million dollars).

The company said, gross profit for the year increased 14 percent to 76 million Australian dollars (60 million dollars), as gross margins increased 190bp. Reported loss before tax was 1.5 million Australian dollars (1.1 million dollars) compared to 0.2 million Australian dollars (0.1 million dollars) in 2016.

MySale operates established online flash-sales and retail websites in Australia, New Zealand, South-East Asia and the United Kingdom. Founded in 2007, the group provides customers with access to popular brands and products at discounted prices while simultaneously providing brand partners, a unique international inventory and sales solutions.

Picture:Facebook/MySale

 

Related news

MORE NEWS

 

LATEST JOBS

 

MOST READ