MySale Group, the international online retailer, has recently announced its successful half-year results, showcasing a return to profit and a positive outlook for the fiscal year ahead. The company’s focus on the Australia and New Zealand markets, through its ANZ First Strategy, has proven to be a significant driving force behind these positive financial results.

In the last six months, MySale Group has made significant progress in executing its ANZ First Strategy, which is now evident in its financial performance. Notably, the group’s EBITDA for the first half of the year reached A$2.5 million, a notable improvement from the A$3.1 million loss experienced in the same period last year.

Although the total revenue for the group experienced a decline of 11% to A$63.8 million, core revenues, which exclude revenue from legacy inventory, saw a substantial increase of 15% to A$61.3 million. It is worth mentioning that a significant portion, 88%, of the core revenue was generated from third-party sellers on MySale’s own ‘Inventory Light Marketplace’ platform. The company has witnessed continuous growth in its third-party partners and active marketplace sellers, and it anticipates this momentum to persist throughout the year.

Furthermore, MySale’s gross margins improved from 34% to 38%, a result of better quality revenues and reductions in the cost base. Moreover, the company managed to reduce its group cost base by 21% to A$21.7 million and achieved a net cash balance of A$15.8 million.

Looking ahead, MySale Group’s performance in the initial two months of the third quarter has remained profitable, with core revenue and gross profit significantly surpassing the previous year. This achievement can be attributed to strong margins and a more flexible cost base.

As part of its restructuring efforts, MySale has placed a great emphasis on improving the quality of its revenue. This includes being more selective with the third-party sellers on its platform and implementing careful stock selection when making purchases.

Overall, MySale Group’s half-year results exemplify the success of its shift towards becoming an Australia/New Zealand-focused business. With a return to profit and positive momentum in key areas, the company is well-positioned for continued growth in the second half of the year and beyond.

Useful links:
1. MySale Group Official Website
2. MySale Group Investor Relations