Kogan Reports Record Cashflow
Online seller Kogan.com says strong trading momentum saw it record net operating cashflows of $9.9 million in its fourth quarter, ended June 30.
Kogan finished the quarter with $32 million in cash at the bank, and access to a $100 million bank facility. It had inventory valued at $30. 6 million on hand while a further $7.5 million of inventory was in transit, Kogan said.
Added CEO/founder Ruslan Kogan: “We are pleased to deliver cashflows that demonstrate better than forecast operating results for Kogan.com’s fourth quarter of trading as a listed company. We have closed out the financial year with strong trading momentum, and some very exciting growth opportunities. We look forward to continuing this trend into FY18 and beyond.”