Friday, September 17, 2021

MySale provides more good news for Mike Ashley & Sir Philip Green


MySale has posted a welcome rise in sales in its first half, as global expansion and Sports Direct integration powers on.

The online flash sales site, of which Sir Philip Green and Mike Ashley have a significant stake, posted a total revenue rise of seven per cent to £84.6 million in the six months to the end of 2016.

Meanwhile pre-tax profits hit £371,110, up from just £123,700 in 2015, alongside an underlying EBITDA rise of 66.7 per cent to £1.9 million.

The user base of the retailer, which now has its headquarters in London despite being founded in Australia, also rose by 19 per cent year-on-year, topping 870,000.

MySale announced a partnership with stakeholder Mike Ashley‘s Sport‘s Direct last year, and the company has now taken steps to integrate this into its retail operations. 

Tests to rollout Ashley‘s goods in Australia and New Zealand are underway, as his 4.8 per cent stake in the business continues to open international doors for the billionaire.

READ MORE: Sir Philip Green and Mike Ashley welcome growth in joint owned MySale

“Forging partnerships with flagship retailers such as Sports Direct is a strong endorsement of the group‘s capabilities in supporting brands in establishing new sales channels as well as inventory management,” MySale stated.

MySale chief executive Carl Jackson added: ”We are pleased with the strong start we have made to the year. Financially, we have performed well and strategically have made good progress towards our goals.

“The number of active customers, online revenue and gross profit each increased substantially as our compelling consumer proposition resonated with our customers around the world.

”We carry good momentum into the historically stronger second half of the year and have a number of exciting initiatives which will support our future growth.

“The growth of our underlying EBITDA for four consecutive half-year periods endorses our strategic plan and we remain confident in the full year‘s prospects.”

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