StockMarketWire.com - Online retailer MySale said its annual underlying earnings had beaten expectations as it narrowed its focus to the Australian and New Zealand markets.

Underlying earnings before interest, tax, depreciation and amortisation for the year through June amounted to A$4.2 million (£2.3 million.

That was ahead of market expectations and in improvement from a A$2.7 million year-on-year loss, the company said.

Revenue fell 4% to A$125.6 million, as expected, but 'core' revenue rose 14% to A$122.0 million.

For the current financial year, MySale said it expected revenues to be 'materially ahead' of current market forecasts.

'However, in light of the group's long-term growth strategy to drive a greater mix of marketplace revenue, this is expected to reduce group gross margin to approximately 31%.'




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