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MySale warns of first-half loss amid 'challenging' second quarter

Tuesday, 11th December 2018
Online retailer MySale Group warned that it expected to book a first-half underlying loss amid 'challenging' conditions during its peak second quarter trading period.

Revenue and profits for the full year through June, 2019, meanwhile, would be 'significantly' below market expectations.

MySale said it now expected to post a small underlying Ebitda loss for the first half.

Performance in the second half was expected to be 'significantly improved', though, following measures taken to reduce costs and improve margins, resulting in a small underlying Ebida profit for the full year.

'The principal challenge has been greater than anticipated market disruption arising from changes to general sales tax regulations in Australia, the group's largest market,' MySale said.

Those problems had been exacerbated by product mix and an insufficient proportion of inventory being located in a local distribution centre.

'Action is being taken to improve the product mix and inventory availability with immediate effect,' the company said

'All senior management and product teams are being centralised in the Sydney head office to facilitate more local sourcing and margin improvement.'




Story provided by StockMarketWire.com

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