MySale revenue boost delivers for Sir Philip Green and Mike Ashley

Retail tycoons Sir Philip Green and Mike Ashley have been dealt some good news as MySale, an Australian online fashion seller they have both backed, reported a surge in sales.
The AIM-listed firm makes money by selling on excess stock from fashion brands in the UK, US and Europe to customers mostly in Australia, New Zealand and South-East Asia - often via time-limited, cut-price “flash sales”.
Its revenues climbed 11pc to A$152m (?85m) in the six months to December as it grew its number of active customers 12pc to 1m.    
MySale also owns UK-based retail site Cocosa, which it bought from former Harrods owner Mohamed Al-Fayed in 2014.
Carl Jackson, its chief executive, said while its UK sales business was only worth a very small part of its overall revenues, it was “growing very quickly”.
MySale revenue boost delivers for Sir Philip Green and Mike Ashley

Mike Ashley's Sports Direct owns a 4.8pc stake in Mysale
MySale sells clothes made for Mr Ashley’s Sports Direct and Mr Green’s Arcadia, as well as Moschino, Hush Puppies and Juicy Couture, among others. 
Moving stock from the northern to the southern hemisphere allows Mysale to take advantage of the opposing seasons, selling winter coats made for UK brands in June and July and European bikinis in December.
The group’s top line was boosted by its new Ourpay “buy now, pay later” service and a boom in mobile sales, which now account for 60pc of all orders.
It made a small pre-tax loss of A$100,000 in the period, compared with A$1.3m in the previous year, while its underlying earnings before interest, tax, depreciation and amortisation climbed 80pc to A$5.5m. 
Mr Jackson said the improved profitability was down to an increase in gross margin as the company grew in size.
MySale endured a turbulent few months after listing in 2014. Its shares fell by around a quarter on their debut after being accidentally listed in pounds instead of pence.
Six months later its value was almost cut in half after it warned profits would be lower than expected because of tough competition in Australia.  
Today the company’s shares were up 3pc at 113p in afternoon trade.
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