(Sharecast News) - Online retailer MySale reported group underlying EBITDA ahead of market expectations in a trading update on Wednesday, at AUD 4.2m (£2.25m), making for an improvement of AUD 6.9m from the loss of AUD 2.7m it recorded in the 2020 financial year.
The AIM-traded firm said its core revenue was ahead 14% for the year ended 30 June at AUD 122m, while group total revenue decreased 4% to AUD 125.6m, in line with its expectations.
Gross profit was AUD 46.3m, up from AUD 43.9m, as the company reported a continued reduction in its cost base to AUD 42.1m, from AUD 47.8m in the prior year.
MySale said its net cash position at period end was AUD 9.1m, with no debt.
Operationally, the company reported "exceptional progress" with scaling its marketplace, launching more than 200 brand partners onto its new seller platform.
It said that was leading to "significant" new business and revenue momentum into the new 2022 financial year.
"We have made significant changes to the leadership team which has delivered immediate results, particularly in the group's marketplace platform, which has scaled rapidly with the addition of over 200 new sellers," said chief executive officer Carl Jackson.
"Looking forward, we will continue to scale at pace the number of marketplace sellers, invest in the proprietary platform and further strengthen the management team, underpinning future growth.
"We have delivered strong improvements in gross margin as we increase our own-stock inventory channel, adopting a 'test-and-repeat' strategy."
Jackson said the company also maintained "strict control" of its cost base, and was expecting further operational efficiencies as it scaled the business.
"Given the uncertainty associated with the pandemic, we remain cautious about the 2022 financial year, however the progress made over the last year gives us confidence in our ability to build a substantially larger business and deliver our ambition to be the leading Australia and New Zealand off-price fashion, beauty and homewares marketplace platform.
"This will be underpinned by capitalising on our large customer base and attractive long-term fundamentals."
At 1426 BST, shares in MySale Group were up 2.8% at 7.35p.
7 Nov 2022 15:54
UK earnings, trading statements calendar - next 7 days
| Tuesday 8 November | |
| 3i Infrastructure PLC | Half Year Results |
| Argentex Group PLC | Half Year Results |
| Associated British Foods PLC | Full Year Results |
| Aveva Group PLC | Half Year Results |
| Beximco Pharmaceuticals Ltd | Full Year Results |
| CNH Industrial NV | Q3 Results |
| Coca-Cola HBC AG | Trading Statement |
| DCC PLC | Half Year Results |
| Direct Line Insurance Group PLC | Trading Statement |
| Egdon Resources PLC | Full Year Results |
| Hilton Food Group PLC | Trading Statement |
| IMI PLC | Trading Statement |
| Marks Electrical Group PLC | Half Year Results |
| Oxford Instruments PLC | Half Year Results |
| Persimmon PLC | Trading Statement |
| Vaalco Energy Inc | Q3 Results |
| Warehouse REIT PLC | Half Year Results |
| YouGov PLC | Full Year Results |
| Zoo Digital Group PLC | Half Year Results |
| Wednesday 9 November | |
| Aviva PLC | Trading Statement |
| Bank of Ireland Group PLC | Trading Statement |
| Biffa PLC | Half Year Results |
| Conduit Holdings Ltd | Trading Statement |
| Dignity PLC | Trading Statement |
| Esken Ltd | Half Year Results |
| FirstGroup PLC | Half Year Results |
| Flutter Entertainment PLC | Trading Statement |
| Gelion PLC | Full Year Results |
| Georgia Capital PLC | Q3 Results |
| Gym Group PLC | Trading Statement |
| JD Wetherspoon PLC | Trading Statement |
| ITV PLC | Trading Statement |
| Marks & Spencer Group PLC | Half Year Results |
| MaxCyte Inc | Q3 Results |
| Norcros PLC | Half Year Results |
| Picton Property Income Ltd | Half Year Results |
| Smiths Group PLC | Trading Statement |
| Smiths News PLC | Full Year Results |
| Taylor Wimpey PLC | Trading Statement |
| Tracsis PLC | Full Year Results |
| Volex PLC | Half Year Results |
| Watches of Switzerland Group PLC | Half Year Results |
| Thursday 10 November | |
| 3i Group PLC | Half Year Results |
| Allianz Technology Trust PLC | Q3 Results |
| AstraZeneca PLC | Q3 Results |
| Auto Trader Group PLC | Half Year Results |
| B&M European Value Retail SA | Half Year Results |
| Bank of Georgia Group PLC | Q3 Results |
| ConvaTec Group PLC | Trading Statement |
| Domino's Pizza Group PLC | Trading Statement |
| Endeavour Mining PLC | Q3 Results |
| Grafton Group PLC | Trading Statement |
| Haleon PLC | Q3 Results |
| Manolete Partners PLC | Half Year Results |
| National Grid PLC | Half Year Results |
| Nightcap PLC | Full Year Results |
| Qinetiq Group PLC | Half Year Results |
| Regional REIT Ltd | Trading Statement |
| Renewi PLC | Half Year Results |
| Spirent Communications PLC | Trading Statement |
| Smoove PLC | Half Year Results |
| Tate & Lyle PLC | Half Year Results |
| TT Electronics PLC | Trading Statement |
| Vistry Group PLC | Trading Statement |
| Young & Co's Brewery PLC | Half Year Results |
| WH Smith PLC | Full Year Results |
| Friday 11 November | |
| Beazley PLC | Half Year Results |
| Permanent TSB Group Holdings PLC | Trading Statement |
| TheWorks.co.uk PLC | Trading Statement |
| Urban Logistics REIT PLC | Half Year Results |
| Monday 14 November | |
| Atalaya Mining PLC | Q3 Results |
| Biome Technologies PLC | Trading Statement |
| Cake Box Holdings PLC | Half Year Results |
| Diversified Energy Co PLC | Trading Statement |
| HgCapital Trust PLC | Q3 Results |
| Informa PLC | Trading Statement |
| Kainos Group PLC | Half Year Results |
| MySale Group PLC | Full Year Results |
| S4 Capital PLC | Q3 Results |
| Totally PLC | Half Year Results |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |