Kogan.com (ASX:KGN) gross sales double

Company News

by Katrina Bullock

Online retailer, Kogan.com (ASX:KGN) has released an impressive trading update for the fourth quarter-to-date. Compared to the same period last year, Kogan’s gross sales grew by more than 100 per cent.

Gross profit rose by more than 130 per cent.

EBITDA increased by more than 200 per cent.

In addition to the strong trading results, Kogan’s balance sheet looks healthy. Cash was $58.6 million as at 31 May 2020, with the company’s debt facility drawn to $26 million.

Shares in Kogan.com (ASX:KGN) are trading 11.93 per cent higher at $12.76.
 

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.