Revenue ($m) 38.3 compared with year-earlier $15.3
Pre-tax profit ($m) -5.3 compared with year-earlier 0.3
Net profit ($m) -5.9 compared with year-ago 0.8
No dividend
Online retailer MyDeal faces losses for several years as it invests to build its brand, customers, inventory and technology with the aim of lifting sales almost five-fold to $1 billion.
“We could easily be profitable right now but that’s not the story, the story is how to build a $1 billion business,” founder and chief executive Sean Senvirtne said on Wednesday after the e-tailer reported its first full-year results since listing last October.
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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com
