The material turnaround in profitability delivered in FY21 reflects the significant progress made in transitioning MySale into an inventory light marketplace model. The scalability of this model is clear over Q1 FY22 with an acceleration of growth in GMV to +50% YOY, boosted by the recruitment of a new Marketplace team, and the arrival of a new CEO with significant sector experience.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
MySale’s interim results were well flagged in its H1 trading update on 22 January. Solid H1 trading reflects the successful execution of the Group’s ANZ First strategy, driving an impressive turnaround in profitability over the period. Positive momentum has been sustained into Q3, with FY21E EBITDA to be ‘significantly ahead’ of consensus.
MySale has delivered a striking turnaround in profitability with H1 FY21 EBITDA of A$2.5m up an impressive A$6.1m YOY. We believe this marked turnaround validates its AZN First strategy and signals the Group now has a robust and cash generative operating platform on which it can scale.
MySale has announced results for FY20A, a year of significant transformation for the Group with the business restructured, recapitalised and repositioned for sustainable and profitable growth. MySale is now a well invested, inventory light e-commerce platform, backed by a solid balance sheet with no debt and cash of A$15.9m at 31 October. We see potential for significant operational gearing to be realised as the business begins to re-scale its international partnerships and build out a new stock...
A director at Mysale Group bought 1,100,000 shares at 4.40p and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...
MySale Group has released a trading update for the six months ended 31 December 2018. As previously announced (11 December 2018), trading in H1 has been adversely impacted by the combination of changes to Australian Goods and Services Tax (GST) along with product mix and delivery cost factors. Revenue for the first six months of FY19 is down 17% to A$126m with gross profit 35% lower at A$29.5m. Management have taken swift action to address these issues with annualised cost savings in excess of A...
The changes to the general sales tax (GST) in Australia from 1st July, that removed the exemption for low value e-commerce direct imports with a value below A$1,000, has had a severe impact on MySale’s recent trading (GST is 10%). Although plans were in place and trading during Q1 was in line, several factors have combined during the peak Q2 period that will have a significant impact on forecasts, with a small loss expected in the first half to December. Accelerating planned cost reductions, a...
FY18 was another year of progress for MySale, with increased sales and profitability, as the business continued to deliver on its longer term strategic objectives supported by the new tech platform. FY18 revenue increased by 8.9% to A$292.2m, while gross profit grew by 12.7% to A$85.7m, underpinned by a 100bps increase in gross margin to 29.3%, following on from a 190bps increase in FY17. Adj. EBITDA grew 35.5% to A$11.8m, which as stated at the pre-close, was slightly ahead of our previous A$11...
Since issuing a reassuring pre-close trading update in July, MySale’s shares have declined 40% resulting in a year-to-date drop of 62%, which looks completely unwarranted in our view given the company’s confident outlook. In the trading update, underlying EBITDA for FY18 (June) is expected to be at least A$11.8m, ahead of our prior forecast of A$11.5m. FY18 sales growth is expected to be c.10% to A$295m, which whilst below our prior A$309m forecast (or 15% growth), has been of secondary impo...
MySale has released an upbeat pre-close trading statement following a record H1, with FY forecasts anticipated to be towards the top end of expectations. Underlying EBITDA has grown 80% to $5.5m, (A$3.0m H1 17), with first half gross profit growing 19% to c.A$45.7m (A$38.4m) as gross margins rose 200 bps. Strong trading for the half has led to underlying EBITDA rising 80% to A$5.5m. The company continues to successfully deliver against its management plan. Management are confident going into the...
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