Debt-free Australian online retailer MySale Group has recently released its annual sales report, indicating a decline in sales revenue. However, the company remains positive about its future prospects, emphasizing its profitability and successful strategic initiatives. The London Stock Exchange-listed company has shifted its focus to the Australia/New Zealand market and made the decision to close its operations in the UK.

CEO Carl Jackson described the past year as “transformative,” highlighting significant accomplishments such as successful recapitalization, restructuring, and repositioning of the business. MySale Group raised A$23.3 million, resulting in a debt-free status and A$15.9 million in cash by the end of October. Despite a decrease in sales revenue from A$208.3 million to A$130 million, the company emphasized an improvement in the quality of revenues and an increase in gross margin to 33.5%. Additionally, the underlying EBITDA loss was significantly reduced to A$2.7 million.

The company’s focus on the Australia/New Zealand market has attracted international partners seeking to capitalize on the customer base in the Southern Hemisphere and take advantage of seasonal inventory opportunities. MySale Group is considering a dual listing on the Australian Stock Exchange and aims to expand its high-margin own-stock inventory while implementing a test and repeat strategy.

Chairman Charles Butler expressed confidence in the growth potential of the e-commerce industry and the company’s ability to provide a world-class platform. Despite the challenges presented by the ongoing pandemic and disruptions in the supply chain, MySale Group remains optimistic about its future prospects and its ability to navigate these obstacles.

Overall, MySale Group’s annual sales report may indicate a decline in sales revenue, but it also highlights the company’s profitability, successful strategic initiatives, and optimistic outlook for the future.

(Useful links:
1. MySale Group Official Website
2. Australian Stock Exchange Website)