Kogan profits up 24.5%, transactions up 17.5% fuelled by insurance & internet

Company News

by Jessica Amir

Kogan.com (ASX:KGN) has continued to see strong earnings, announcing a 17.5 per cent rise in its gross transaction value growth.

The bolstered result came from customers increasing across their Mobile, Travel, Retail and Kogan Marketplace businesses, with its Kogan Insurance business revenue rising 73.6 per cent year-on-year (for 3QFY19). While its Kogan Internet customers grew 78.7 per cent quarter-on-quarter, as at 31 March 2019.

The leading consumer business brand announced its gross profit growth of 24.5 per cent in the third quarter of FY19, compared to the same time last year (3QFY18), on a unaudited management account basis.

EBITDA growth came in at about 81.7 per cent (also over the same periods) after removing the prior period positive impact.

Shares in Kogan.com are trading 13.5 per cent higher at $5.12.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.