MySale, the company behind Cocosa, has recently announced its preliminary results for the year, showcasing growth in revenue, profit, and customer base. Despite a slight pre-tax loss, the company’s core financial metrics are trending upwards. Revenue saw a 9% increase, reaching A$292.2 million, while gross profit surged by 13% to A$85.7 million. This growth in revenue and profit came with the company’s gross margin also seeing a 100bps improvement, although a pre-tax loss of A$1.7 million was reported, which was wider than the previous year’s loss of A$1.6 million.
The loss cited charges linked to the acquisition and restructuring of Identity Direct, along with abandoned acquisitions amounting to A$20 million. However, MySale remains positive regarding future growth prospects and strategic acquisitions moving forward.
The active customer base of the company witnessed a 9% increase, reaching 1 million customers. Notably, MySale’s emphasis on expanding its own-buy inventory led to it contributing 23% of online revenue. Additional investment in technology, the launch of the Ourpay buy-now-pay-later initiative, and introduction of the Select subscription delivery service all played crucial roles in driving the company’s growth.
CEO Carl Jackson highlighted the enhanced customer engagement metrics, increased average order values, basket sizes, and order frequency. Operating in 8 countries, MySale observed particularly strong performance in the UK market, recording a revenue spike of 26%.
MySale’s strategic direction in focusing on margin improvement over revenue growth in Southeast Asia resulted in a notable 280bps increase in gross margin. The UK market has been identified as a key hub for product sourcing, with plans to expand the customer base in emerging territories.
Looking ahead, MySale is confident about meeting market forecasts for underlying EBITDA and aims to further build on the strong foundation laid in the prior year. Through a strategic approach centered on customer engagement and market expansion, MySale is well-positioned for sustained growth and profitability.
For more information on MySale and its recent developments, visit their official website here. Additionally, to explore the latest offerings from Cocosa, visit their website here.
