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Revenue and profits up at MySale

International flash Sales etailer MySale saw revenue and profits jump in the six months to 31 December 2017, driven by a growing customer base and investment in technology.

Revenue grew by 11% to A$151.8m (£83m) and profits were up 19% to A$45.6 (£25.6m). Underlying EBITDA leapt by 80% to a record A$5.5m (£3m) during the same period, up from A$3m (£1.6m) on the year before.

Chief executive Carl Jackson told Drapers the etailer’s fashion offering had seen a “dramatic” increase in UK brands, driven by excess stock in the market and increased demand from Australia given its strong dollar relative to the pound.

“We buy products out of the UK, US and Australia [which are sold into other regions], but we’re seeing more and more come out of the UK over time. The UK mix is growing dramatically.

“We continue to see the UK buying office grow and ultimately, this will be the biggest sourcing office within the group.”

MySale has partnered with 2,500 brands across the business. Jackson counted Hobbs, Warehouse, Vivienne Westwood and Escada among recent brand partners signing up with the site.

The etailer’s customer base increased by 12% to one million users during the period, while its returns rate was 5%.

During the timeframe, it launched a beta version of a new subscription delivery service called Ourpay Select, which Jackson called its “equivalent [to] Amazon Prime”.

He added that the business will focus on its delivery and fulfilment strategies, on top of buying, for the second half of the year “and beyond”.

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