Kogan Grows Revenue 37%
Online shopping destination Kogan has released its latest half-yearly report, listing revenue growth of 37.3% to $143.9 million.
The same period in the previous year brought in $104.7 million.
Kogan now claim an active customer base of 830,000.
All told, the company reported $7.3 million in Pro-Forma Trading EBITDA.
As highlighted in their recent quarterly report, 90% of the company’s $42.2 million in inventory is less than 90 days old.
Kogan founder Ruslan Kogan said “we are pleased to deliver results for our shareholders that exceed full year Prospectus earnings forecasts and demonstrate that we are on-track to continue and built the Kogan.com business in line with our long-term strategy.”
However, questions remain with regards to the fortunes of the company with the arrival of US reseller Amazon.
Speaking with the AAP, Ruslan dismissed the threat of Amazon, saying “Amazon will hurt some retailers no doubt but the ones they’ll hurt are the ones that are selling the same thing as everybody else at fat margins.”
That explanation hasn’t quite sold investors with The Motley Fool saying “Given Amazon’s pricing power, it certainly won’t be on the most favourable terms for Kogan though, and the retailer’s margins are likely to shrink.”
Kogan’s stock price rose to $1.58 following the release of the report, still short of its initial float price of $1.80.