Home Listed Tech Business on the up for Kogan as profit forecasts upgraded

Business on the up for Kogan as profit forecasts upgraded

Online discount retailer Kogan has upgraded its full-year profit guidance and is now expecting EBITDA — earnings before interest, tax, depreciation and amortisation — to be more than $11.5 million for the full year 2017, an increase from previous guidance of between $10.5 and $11.5 million.

Releasing the company’s third quarter cash flow statement, Kogan said strong trading momentum has continued in the third quarter, with the business exceeding revised management budgets and producing net operating cash flows of $1.1million.

Kogan founder and chief executive Ruslan Kogan said the company was pleased with the strong performance in 3Q17.

“We are pleased to deliver cash flows that demonstrate better than forecast operating results for Kogan.com’s third quarter of trading as a listed company. This has led to a further upgrade in our full-year earnings outlook.

“We are building the Kogan.com business in line with our long-term growth strategy. Our operating momentum is strong and we are delivering sustainable growth for our shareholders.

“With the funds raised at the IPO, our consumer offering is stronger than it’s ever been and our customers are happier than they’ve ever been. We look forward to maintaining this momentum as we scale and continue to delight our customers.”

The company paid a maiden dividend of 3.9 cents per share last month and plans to pay a final dividend at the end of the 2017 financial year.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).