25 Nov 2015 07:03
Annual General Meeting Statement
MySale Group plc (AIM: MYSL) (the "Company") the leading online retailer with established international flash sales websites is pleased to provide an update ahead of its annual general meeting to be held today at which Iain McDonald, Non-Executive Chairman, will note;
"We have made a good start to the new financial year. Our focus remains on re-establishing our profitability over the course of this financial year whilst continuing to invest in our technology platform and new markets in Asia. I am pleased to say that we are on track to achieve this - the business is profitable year to date, in line with our expectations, in contrast to the substantial losses incurred for same period last year.
''We are in good shape operationally for peak trading; the recently announced acquisition of the Grays Online businesses will give us an exciting opportunity to grow our active customer base and widen our online offer; and the customer acquisition model we have been following in Asia is beginning to prove itself. Whilst there is still much to do, this has been a very encouraging start to the year.''
Enquiries:
MySale Group plc Carl Jackson, Chief Executive Officer | +61 (0) 414 817 843 + 44 (0) 7895 161 153
|
Graeme Burns, Corporate Development Director | +44 (0) 777 585 4516
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Zeus Capital Limited (Nominated Adviser & Broker) Nicholas How, Corporate Finance
| tel: +44 (0) 20 3829 5000 |
Maitland Dan Yea | tel: +44 (0)20 7379 5151 |
About MySale Group
MySale is a leading international online retailer with established flash sales websites in Australia and New Zealand (ANZ), South-East Asia (SEA) and the United Kingdom, with over 800,000 active members. Founded in 2007, the Group provides members with access to outstanding products at exceptional value whilst providing a unique route for brand partners to manage excess inventory in the Southern Hemisphere. The websites host time limited flash sales in each of its three territories across ladieswear, menswear, childrenswear, health, beauty and homewares.
The Group's online sales are supported by an international network of supply chain infrastructure and technology that enables MySale to source products from around the world for sale and delivery to members.
As a result of this exceptional inventory management solution, MySale has built a unique international brand portfolio and sourcing capability and is able to source product from over 3,000 brand partners.