Kogan (ASX:KGN) achieves record sales

Company News

by Katrina Bullock

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Last Updated: 24/02/2020 3:59 PM

Diversified online retailer, Kogan.com (ASX:KGN) has recorded the highest half yearly gross sales and gross profit in the company’s history.

Gross sales were up more than 16 per cent and gross profit grew by more than 9 per cent compared to the first half of the 2019 financial year.

Kogan Marketplace gross sales grew by more than 44 per cent on the prior quarter, bolstered by the highest Black Friday and Boxing Day sales results the company has achieved to date.

Kogan.com CEO, Ruslan Kogan says “[a]s we introduce new sellers to the Kogan Marketplace, and rapidly grow that division, we are undergoing a period of transition to an e-Commerce company that is no longer constrained by inventory and is capable of infinite growth without additional capital.”

Shares in Kogan.com (ASX:KGN) are trading 21.2 per cent lower at $6.26.
 

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.