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CITY BULLETINS [Western Mail (Wales)](Western Mail (Wales) Via Acquire Media NewsEdge) EXPANSION PLANS MYSALE, the online retailer backed by Topshop boss Sir Philip Green and Mike Ashley of Sports Direct, swung to a pre-tax loss of $A62.1m (Pounds 3.4.5m) from a $A5.8m (Pounds 3.2m) profit in the year to June 30 after listing costs and preference shares were written off. The firm, which floated on the stockmarket in June, added it had bought a 60% stake in Danish website Invitetobuy for an undisclosed sum and planned to expand in the Nordic regions. LOSSES WIDEN MOBILE banking firm Monitise said its pre-tax losses widened to Pounds 63.4m from Pounds 51.1m in the year to June 30 as management said it invested in products to grow the business. The company said the number of registered users rose by seven million over the period to 30 million, adding it would become profitable by the end of its 2016 financial year. DONE DEAL BRITISH defence firm Cobham said it has completed the Pounds 548m acquisition of a US maker of wireless systems, Aeroflex. The Dorset- based company said the deal for the company, which made the components for the robotic arm on Nasa's Mars Rover, was the largest in its 80-year history. PROFIT WARNING ENGINEERING software firm Aveva has issued a profit has issued a profit A warning, saying the effects of a strong pound and the timing of contract renewals would hit first half revenues by Pounds 14m. The Cambridge-based business said it now expected first-half sales to range between Pounds 84m and Pounds 90m. FASHION BOOM ONLINE fashion firm boohoo. com said sales jumped 31% to Pounds 67m in the half year to August 31, driven by UK sales which rose by a half and continental European revenues up 61%. (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |