MySale returns to profit thanks to trendy bargain-hunting Brits

Brits wanting to bag designer labels at bargain prices helped MySale fight back from a profit warning and climb back into the black, the boss of the fashion etailer said on Tuesday.

Belstaff and Moschino were among the best-selling brands in the UK in the six months to the end of December at the “flash sale” fashion site backed by Sir Philip Green and Mike Ashley.

The company allows retailers to sell off leftover stock at the end of a season.

Chief executive Carl Jackson said fewer customer discounts on deliveries also helped MySale record an underlying profit of A$1.5 million (£723,000).

During the same period in 2014 it made an underlying pre-tax loss of A$11.4 million, and warned that ploughing millions into boosting sales in Australia meant profits were set to be lower than expected.

Jackson said there was strong momentum carried into the second half of the financial year.