Source - SMW
Online retailer MySale posted a first-half loss and said its performance in the second half had been hurt by Australia's wildfire crisis and the Covid-19 pandemic.

Pre-tax losses for the six months through December amounted to A$3.7m, compared to losses of A$10.3m on-year.

Revenue sank 43% to A$72m.

'The group has undergone a period of significant change with an intense focus on reducing costs and inventory levels,' chief executive Carl Jackson said.

Jackson said MySale was still in its first year of pivoting to an 'inventory light marketplace platform' and focus on Australia and New Zealand.

'The second half to date has been impacted by poor consumer confidence as a result of the bushfire crisis and early challenges with the supply chain due to the Covid-19 pandemic,' he said.

'However, as the pandemic has accelerated, MySale has benefited from additional inventory in the market as retailers and brands have been unable to sell it through their mainly offline existing channels.'

'As a result, revenues in the last two weeks of March have been stronger and we have experienced an increase in the number of brands wanting to sell on our marketplace platform.'

 




At 9:45am: (LON:MYSL) Mysale Group Plc share price was -0.08p at 1.92p



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