Mysale Group (MYSL)

Sector:

Retailers

Index:

FTSE AIM All-Share

4.40p
   
  • Change Today:
      0.005p
  • 52 Week High: 18.44
  • 52 Week Low: 1.75
  • Currency: UK Pounds
  • Shares Issued: 809.70m
  • Volume: 1,000
  • Market Cap: £35.63m
  • RiskGrade: 388

MySale Group losses deepen as restructuring takes toll

By Duncan Ferris

Date: Thursday 05 Dec 2019

LONDON (ShareCast) - (Sharecast News) - MySale Group on Thursday reported a wider annual loss as revenue dived and margins were slashed amid restructuring efforts.
The Australia and New Zealand-focused business booked a loss before tax of A$58.2m (£30.2m) for the year ended 30 June, a sharp deterioration from the A$3.7m loss registered in the year before, as revenues slid by 29% to A$208.6m.

The drop in turnover came after the online retailer encountered difficulties due to changes in Australian goods and services taxes, while it also disposed of its UK website and shutdown online operations in the Philippines and Thailand.

Gross margin tumbled from 28.6% to 8.9% as the AIM traded company booked significant costs associated with restructuring the business, which included supply chain optimisation and the closure of offices and warehouses in the UK and US.

MySale said trading in its ongoing financial year has been in line with management expectations, leading the board to anticipate that its next set of annual underlying earnings and revenue will live up to management forecasts.

Chief executive Carl Jackson said: "It has been a difficult year for MySale during which we faced a series of significant challenges which resulted in a disappointing financial performance for the group. We have now implemented the necessary changes to rebuild from a strengthened platform."

Jackson added that the company's new organisational structure, improved business model and debt free status meant it was primed to deliver value moving forwards.

MySale shares were up by 1.99% at 3.59p at 1234 GMT.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Mysale Group Market Data

Currency UK Pounds
Share Price 4.40p
Change Today 0.005p
% Change -0.11 %
52 Week High 18.44
52 Week Low 1.75
Volume 1,000
Shares Issued 809.70m
Market Cap £35.63m
RiskGrade 388

Mysale Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.37% below the market average33.37% below the market average33.37% below the market average33.37% below the market average33.37% below the market average
51.02% below the sector average51.02% below the sector average51.02% below the sector average51.02% below the sector average51.02% below the sector average
Price Trend
69.91% below the market average69.91% below the market average69.91% below the market average69.91% below the market average69.91% below the market average
85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average
Income Not Available
Growth
19.77% below the market average19.77% below the market average19.77% below the market average19.77% below the market average19.77% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average

Mysale Group Dividends

No dividends found

Trades for 17-Feb-2020

Time Volume / Share Price
12:28 1,000 @ 4.30p

Mysale Group Key Personnel

CEO Carl Jackson
Chair Charles A N Butler

Top of Page