Flash sales e-tailer MySale posts revenue growth driven by UK & Asia

By

Barbara Santamaria

Published
Jul 21, 2016

London-listed flash sales e-tailer MySale said on Thursday that revenue for the year to 30 June 2016 increased by 7% to A$252 million, helped by strong trading in the UK and Asia, where revenue grew by 140% and 20% respectively.

MySale trades in the United Kingdom mainly under the premium Cocosa brand, a members-only luxury online shopping club. The group considers this market to offer “an enormous opportunity” for growth and plans to increase investment in customer acquisition and grow the customer base.

Underlying EBITDA is expected to be above current market expectations at approximately A$5 million, said the retailer, which has also websites in Australia, New Zealand and South-East Asia.

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In the second half of FY2016, the group grew its active customer base, increased the average order value and improved its operational performance.

The company also said in a statement that it is “well insulated” from any uncertainty associated with the United Kingdom's prospective exit from the EU and that it will experience a slight benefit from a weaker Sterling exchange rate.

The Group operates websites under a number of different brands, including MySale in Australia, New Zealand Malaysia, Thailand, the Philippines, the UK and Hong Kong, and OzSale and BuyInvite in Australia, to name a few.