Kogan (ASX:KGN) gross sales exceed half a billion dollars

Company News

by Anna Napoli

Kogan (ASX:KGN) has kicked off its AGM in Melbourne with Chairman Greg Ridder hi lighting the company’s accelerated growth of the exclusive brands product division, achieving 41.6 per cent growth in revenue on FY18 and Kogan Mobile grew commission-based revenue by 9.8 per cent year-on-year.

The online shopping platforms logistics footprint expanded to 13 distribution centres to enable it to deliver goods faster and cheaper to customers.

The company’s net profit of $17.2 million was up 21.9 per cent on FY18 while gross sales exceeded half a billion dollars for the first time ever.

In the first half of FY20 the company launched Kogan Super, Kogan Credit Cards, Kogan Mobile New Zealand; and Kogan Energy.

Shares in Kogan (ASX:KGN) are trading 1.45 per cent hgiher at $7.70.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.