Mysale Group (MYSL)

 

MySale says FY underlying EBITDA ahead of views

MySale Group said it is ahead of market expectations for both revenue and underlying EBITDA in the 12 months to June 30.

HIGHLIGHTS:

· Underlying EBITDA expected to be above current market expectations at approximately A$5 million versus consensus market forecast of A$4.7 million

· Revenue increased by 7% to A$252 million (2015: A$235 million) for the full year following second half growth of 10%, also above current market expectations

· Revenue growth in all territories, but notable strength in the target growth markets UK (+140%) and Asia (+20%)

· Gross Profit increased 21% driven by a 300bp margin improvement, with growth of 26% in the second half

· Strong balance sheet with an increased cash balance of A$34 million (31 Dec 2015: A$30 million) and underlying cash position of A$43 million, representing c 16 pence per share