E-commerce company MySale has released its trading update, revealing lower sales and an underlying loss for the period ending December 31, 2019. Despite these challenges, the company remains focused on its core markets in Australia and New Zealand, as well as expanding its presence in Southeast Asia. MySale, known for offering discounted fashion and other goods, has recently divested its UK-based Cocosa operation.

During this six-month period, MySale achieved revenue of A$71.9m, in line with expectations as the company transitioned to an Inventory Light Marketplace Platform. Although there was an underlying EBITDA loss of A$3.6m, MySale maintained a net cash position of A$7.2m and eliminated its debt.

The company continues to perform as anticipated by management, building on its efforts from the previous year to simplify, reorganize, and recapitalize the business. This involved a restructuring of the supply chain and relaunching brand partners on the Inventory-Light Marketplace Platform, which allows them to take advantage of MySale’s counter-seasonal proposition.

CEO Carl Jackson expressed his satisfaction with the progress achieved, stating, “After taking crucial steps last year to restructure the group for the future, we are pleased to see our counter-seasonal offering resonating with several of our brand partners who have relaunched on our marketplace platform over the last six months.” Jackson also highlighted the company’s dedication to maintaining momentum in Australia and New Zealand through its inventory light marketplace, improved organizational structure, and simplified business model, with plans to make further progress in the second half of the fiscal year.

Useful links:
1. MySale official website
2. About MySale