LONDON (Alliance News) - Online flash sale retailer MySale Group PLC said it is set to post a rise in revenue for the year to the end of June and said its performance improved in the second half as it said it has appointed a new chairman.
MySale said its revenue for the year was up by 5% to AUD235 million and said its second-half underlying earnings before interest, taxation, depreciation and amortisation should be broadly break-even.
MySale added it had a profitable fourth quarter and improving trading trends towards the end of its financial year and said it took action in the second half to improve its gross margins, with fixed costs successfully pulled lower in the second half.
In addition to the trading update, the company said it has appointed Iain McDonald as its new non-executive chairman. McDonald is a partner at William Currie Group, the technology and e-commerce investment company.
"MySale is focussed on profitable growth and we are pleased with the progress achieved over the last six months. We are delighted that Iain McDonald has joined as chairman bringing a wealth of online retail and significant UK capital markets experience," said Carl Jackson, MySale's chief executive.
MySale shares were up 13% in early trade to 45.00 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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