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MySale losses widen on one-off acquisition costs

Tuesday, 9th October 2018
AIM-listed and Australian-based Online retailer MySale Group posted an annual loss, owing to one-off expenses that offset a rise in revenue.

Pre-tax losses for the year through July amounted to A$1.7m, widening from an on-year loss of A$1.6m.

One-off items included A$1.4m of costs associated with the acquisition and subsequent reorganisation of Identity Direct and $2.0m of costs associated with potential acquisition transactions which did not conclude.

Revenue rose 9% to A$292.2m, while underlying profit rose 50% to A$4.9m.

'We are very pleased to deliver another set of record results, with significant increases in both our sales and profit performance for the year, demonstrating the strategic progress we have made to harness our technology platform, increase customer engagement and drive growth,' chief executive Carl Jackson said.

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