MySale said it still plans to become a leading online flash sale operator in the UK market despite making a slow start.
The company, which launched its UK website last summer as it expanded a business built in Australia and South East Asia, today said it planned to build on its acquisition of the Cocosa database to expand its UK sales. But its ambition of becoming a leading player in the UK market still looks some way off. In the year to June 30, while sales in Australia grew to A$205.3m, and in Asia to A$26.3m, the rest of the world segment, which predominantly includes the UK rose to A$4.2m. In total, revenue reached A$235.8m, while pre-tax losses reached A$21.5m. But in the second half of the year, it turned a profit, with an underlying earnings before interest, tax and asset writedowns of A$200,000 for the period.
MySale said that during the latest financial year it had focused in the UK on engaging and converting Cocosa members to active MySale shoppers rather than gaining new customers. “Whilst currently a small part of the business, the UK operations are present in a large and well developed online marketplace where engaged and active consumers can be acquired successfully,” the company said as it reported full-year results. “Given there is no online flash sale operator of scale in the UK the group has targeted becoming a leading operator in the country.”
Elsewhere, the company said 55% of sales were now made via mobile devices.
