MYSL.L Regulatory News (MYSL)

Annual General Meeting Update

MySale Group plc (AIM: MYSL) (the "group") the leading online retailer, 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;

"The current financial year has started well with revenue growth rates similar to the second half of last year and with substantially enhanced gross profits.

''We have continued to direct more of our marketing spend in the core ANZ market towards re-engagement with lapsed or inactive customers and this has been successful in reducing Cost Per Activation (CPA). We will continue to invest in our data and analytics capability over the remainder of the financial year and so would expect to drive further improvements in marketing efficiency. 

''With reference to market forecasts, at this relatively early stage we would anticipate a full-year out turn slightly above the top end of the current range of analysts' projections of $8.2 million to $8.5 million underlying EBITDA. 

''All that remains is for me to thank all those within the MySale Group for their efforts in returning the group to the positive pathway which it is on."

Enquiries:

About MySale Group

MySale is a leading international online retailer with established online flash sales and retail websites in Australia, New Zealand, South-East Asia and the United Kingdom. Founded in 2007, the Group provides customers with access to outstanding brands and products at discounted prices whilst simultaneously providing brand partners unique international inventory and sales solutions.

The Group's flash sales websites host time limited sales in each of its territories. These flash sales are focused on fashion, apparel, health, beauty and homeware categories and are predominantly undertaken on a consignment inventory basis. The retail websites operate in Australia and focus on similar product categories using mostly drop-shipped inventory.

Customers' shopping experiences are enhanced by the Group's deployment of leading edge technology to ensure personalised and localised product offerings. Customer convenience has been at the heart of the Group's technology development since the earliest days and now mobile commerce is the Group's main sales channel.

The Group's online sales are supported by a robust and flexible network of in-house supply chain infrastructure and technology that enables MySale to offer products from around the world for sale and delivery to customers in each territory.

As a result of these exceptional capabilities in inventory management and international sales MySale has built an enviable portfolio of over 2,500 brand partners from whom products are sourced.

The Group operates websites under a number of different brands all of which operate on a uniform technology platform and a single international logistics infrastructure.

The Group's flash sales brands are; OzSale and BuyInvite in Australia; NzSale in New Zealand; SingSale in Singapore; MySale in Australia, New Zealand Malaysia, Thailand, the Philippines, the United Kingdom and Hong Kong, and Cocosa in the United Kingdom, Australia and New Zealand; whilst the Group's retail websites are Deals Direct, OO.com and Top Buy in Australia.