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Mydeal.com.au Limited (ASX:MYD) announces record half year results with >200% increases in gross sales, gross profit, revenue and active customers

February 24, 2021 Financial No Comments Email Email

Online household goods marketplace, Mydeal.com.au Limited (ASX:MYD), has released record half year results to the market this morning, reporting over 200% increases across gross sales, gross profit, revenue and active customers. This is the first half yearly result since MyDeal listed in October 2020 and contains the strongest results in the company’s history.

Key highlights for the period include:
• Gross Sales increased 217% to $126.7m
• Revenue up 248% to $21.2m
• Gross Profit of $18.9m, up 210%
• Active Customers up 205% year-on-year to a record 813,764 at 31 December 2020
• Strong repeat business with 52.7% of Q2 FY21 transactions coming from returning customers
• Launch of Private Label contributed $4.3 million of Gross Sales at attractive gross profit margins of about 43%
• Strong cash balance as at 31 December 2020 of $48.1m, leaving significant runway for execution of growth strategy

See the ASX announcement, investor presentation and imagery here and let me know if you need anything else in addition.

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