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International online retailer MySale Group said it had a been a 'difficult year' for the group, as it made a pre-tax loss for the year ended 30 June 2019 and saw group revenue decline.
The group reported a pre-tax loss before exceptional items for the year of A$26.3m, compared to a A$2.9m profit in the previous year. The reported loss before tax for the year is A$58.2m, compared to a A$3.7m loss in the full-year 2018.
In its results, MySale reported that the loss after tax before exceptional items for the year is A$28.7m, while the reported loss after tax for the year is A$69.3m.
Group revenue decreased by 28.6% to A$208.6m and gross profit before exceptional items fell by 54.3%, to A$38.2m.
MySale Group said it has recorded a tax expense of A$11.1m for the year, which includes an impairment to the deferred tax asset of A$10.6m.
Chief executive Carl Jackson said: 'It has been a difficult year for MySale during which we faced a series of significant challenges which resulted in a disappointing financial performance for the group. We have now implemented the necessary changes to rebuild from a strengthened platform.'
At 8:14am: (LON:MYSL) Mysale Group Plc share price was +0.05p at 3.57p