MySale warns of first-half loss; sees better second half

Writer, Stock Market Wire
Friday, February 8, 2019 - 08:05

Online retailer MySale Group said it would post an underlying loss in the first half, due to Australian tax regulation, product mix and inventory issues.

The loss for the six months through December would be recorded at the underlying Ebitda level.

'As previously outlined, actions have been taken to accelerate the group's cost saving programme, via increased technology platform efficiencies and rationalised operations,' the company said.

'An improved product mix and increased local sourcing have also been put in place to improve gross profit margins,' it added.

Annualised cost savings in excess of A$10m were anticipated which, in combination with improved margins,would result in a 'significantly improved' performance in the second half.

The group therefore said it expected to deliver a small underlying Ebitda profit for the full year.

At 8:05am: (LON:MYSL) Mysale Group Plc share price was -1.7p at 21p

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