Tuesday, 23 August 2016 11:03

Kogan betters forecasts with lift in sales Featured

By

Online retailer Kogan has rebounded from an uninspiring debut on the ASX to come in ahead of forecasts with a 5.4% jump in revenue to $211.16 million and a lift in profits for the year to the end of June.

Revenue was ahead of prospectus forecasts by $10.1 million while profits were $849,149 ($400,000 prospectus forecast) for the FY 2016 compared to a loss of $69,590 in the previous year.

Kogan.com listed on the ASX on 7 July and its share price dropped on the first day of trading.

Kogan’s lift in revenue got a boost in the last two months of the financial year from the addition of sales from its purchase of the Dick Smith brand, trademarks, customer database and websites.

The launch of Dick Smith delivered $6.5 million in revenue after launching in May, exceeding management expectations.

Kogan founder and chief executive Ruslan Kogan said delivering results to shareholders that exceeded prospectus forecasts “demonstrated that we are on track to continue to build the Kogan.com business in line with our long term business strategy”.

“Our launch of Dick Smith ahead of schedule demonstrates the capability of our team to rapidly deliver major complex projects, as does our successful launch of Kogan Mobile and Kogan Travel in 2015.

“Following the IPO, we have released the capital constraints on the business, allowing us to aggressively pursue our growth ambitions.

“Today Kogan.com is Australia’s leading pure play online retail website, generating more traffic and Google search queries than its peers. Kogan.com is built on a strong sustainable foundation of brand-equity, efficient ‘next generation’ supply chain, technological expertise and a world class management team,” Kogan said.

Kogan.com had 3.7 million active subscribers at 30 June, up 60.8% from 2015.

Excluding the impact of Dick Smith, subscriber numbers achieved 26.1% organic growth in the six months to June 2016.

Active customer numbers were up 13.0% in total, or 8.2% excluding Dick Smith.

BUSINESS WORKS BETTER WITH WINDOWS 1O. MAKE THE SHIFT

You cannot afford to miss this Dell Webinar.

With Windows 7 support ending 14th January 2020, its time to start looking at your options.

This can have significant impacts on your organisation but also presents organisations with an opportunity to fundamentally rethink the way users work.

The Details

When: Thursday, September 26, 2019
Presenter: Dell Technologies
Location: Your Computer

Timezones

QLD, VIC, NSW, ACT & TAS: 11:00 am
SA, NT: 10:30 am
WA: 9:00 am NZ: 1:00 pm

Register and find out all the details you need to know below.

REGISTER!

ADVERTISE ON ITWIRE NEWS SITE & NEWSLETTER

iTWire can help you promote your company, services, and products.

Get more LEADS & MORE SALES

Advertise on the iTWire News Site / Website

Advertise in the iTWire UPDATE / Newsletter

Promote your message via iTWire Sponsored Content/News

Guest Opinion for Home Page exposure

Contact Andrew on 0412 390 000 or email [email protected]

OR CLICK HERE!

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).

VENDOR NEWS & EVENTS

REVIEWS

Recent Comments