MySale Group PLC - Australia, New Zealand and south east Asia-focused online retailer - Expects earnings before interest, tax, depreciation, and amortisation for its first half ended December 31 at AUD2.5 million - around GBP1.4 million - swinging from a loss of AUD3.6 million the year prior. This is on revenue of AUD63.3 million, up 14% year on year, driven by changes made to the group's operating model and increasing focus on its strategy and inventory light marketplace platform. Gross margin increased to 38% from 34%.
As at December-end, MySale had cash of AUD15.8 million, up from AUD7.2 million at December 31, 2019.
Looking ahead, it says: "Whilst the impact of the Covid-19 pandemic in Australia and New Zealand has not been as severe as in other countries, the broader consumer and economic outlook remains uncertain. Notwithstanding this uncertainty, the group has a robust balance sheet and is operating on a cash generative and debt free basis, with a strong underlying cash position. Furthermore, the board is confident that the group will continue to make progress executing its strategy over the second half of the year."
Current stock price: 9.05 pence
Year-to-date change: down 6.7%
By Ife Taiwo; ifetaiwo@alliancenews.com
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