Kogan 'outperforms' to deliver a record-breaking Christmas
Written on the 22 January 2018 by David Simmons
ONLINE retailer and ASX listed company Kogan.com Limited (ASX: KGN) says it had a record-breaking Christmas season.
The company, which is entirely online based and sells electronics, insurance, and other products, finished the second quarter of FY18 with cash of $28.2 million.
Founder and CEO of Kogan, Ruslan Kogan (pictured), says he is pleased with the company's result at the end of the year the accelerated growth of the company, and the strong trajectory of the business.
"I'm very proud of the entire Kogan.com ream for achieving a record breaking quarter this Christmas sales season," says Kogan.
"With sales hitting record after record, it demonstrates how compelling our offering is for customers."
"We ended this Christmas quarter with a robust level of in-demand inventory. We are now extremely well poised to support our accelerated trajectory into the ne calendar year."
Whilst the company's half yearly results are still under audit, the group announced a number of key financial points ahead of the release.
The company, in a statement to the ASX, said acceleration in trading momentum in 2QFY18 resulted in the business outperforming management budgets.
Kogan Mobile also continues to perform well, with strong growth achieved in 1HFY18.
The company remains in a strong financial position at 31 December 2017, with cash of $28.2 million and inventories of $69.6 million.
Shares in the online retailer are down 1.91 per cent to $6.67 at 11.59am AEDT.
Business News Australia
Author: David Simmons