MYSL.L Share News (MYSL)

(ShareCast News) - Australian online retailer MySale Group's half-year earnings doubled after a surge in revenues as its company base expanded.The AIM-listed company said that having increased its guidance in November, it anticipates a full year out-turn in line with projections and is confident about the second half of the year.Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) doubled in the six months ended 31 December 2016, to about AU$3m, compared to the same period last year.Total revenue rose 6% to AU$136.1m, while online revenue, which represents over 90% of total revenue, surged 18% to AU$126.5m as the retailer's customer base increased 19% to 870,000.Gross margins improved by 270 basis points, which drove a gross profit rise of 17% to AU$38.4m.At the end of December, the company net balance increased to AU$29.1m from AU$23.4m from the previous year.The company also said that it has launched a partnership with US online retailer gilt.com, part of the Hudson's Bay Company, which is expected to add more products to its platform.Chief executive Carl Jackson, said: ''Financially we have performed well and strategically have made good progress against our goals. In Australia and New Zealand we have continued to shift the emphasis of our marketing towards retention and re-engagement and have also seen good progress in the scaling of our retail marketplace platform."He added: ''We carry good momentum into the, historically stronger, second half of the year and have a number of exciting initiatives which will support our future growth. ''Interim results will be posted on 1 March.Shares in MySale Group were up 3.25% to 129.59p at 0932 GMT.