MySale Group makes solid start to year

Online retailer MySale Group has started its financial year positively, investors were told at its annual general meeting on Monday.

The AIM-traded firm’s revenue had accelerated compared to last year, with gross margins increasing as the board continued to “carefully control” its cost base.

“This is delivering good growth in underlying profitability, in line with management’s expectations,” said non-executive chairman Iain McDonald.

McDonald said the firm’s “enhanced proprietary technology platform”, which was rolled out last year, was supporting all areas of the business to reach more customers and operate more efficiently, as anticipated.

“The Ourpay buy-now pay-later solution continues to grow its subscriber base at a pleasing rate and Identity Direct, the personalised goods business acquired last year, has integrated well.

“The group's plans for the year are ambitious and our recent partnerships, product verticals and technology platform enhancements are supporting these plans and gives the board confidence in the group's prospects for the full year,” McDonald added.