Kogan beats prospectus forecasts

KoganKogan has today announced revenue of $211.2 million (FY2015: $200.3 million), which exceeds prospectus forecasts by 5.0 per cent.

The pureplay retailer said the successful integration of failed retailer Dick Smith, solid growth in active customers and subscribers and its travel and mobile operations had helped drive statutory EBITDA of $3.9 million.

“Today Kogan.com is Australia’s leading pure play online retail website, generating more traffic and Google search queries than its peers,” said Ruslan Kogan, founder and CEO of Kogan. “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.”

Dick Smith delivered revenue of $6.5 million in FY2016 to Kogan’s performance. Excluding Dick Smith, Kogan.com outperformed forecasts by $3.6 million

Pro forma and statutory NPAT of $0.8 million (FY2015 Pro forma: $(0.3) million;  Gross Sales of Kogan Travel and Kogan Mobile exceeded Prospectus forecasts by 11.6 per cent and 25.0 per cent, respectively

“We are pleased to deliver results for our shareholders that exceed prospectus forecasts and demonstrate that we are on track to continue to build the Kogan.com business in line with our long term business strategy,” said Kogan.

“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.”

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

Does your retail business have a loyalty program?
Vote

Twitter

A post-election bump in confidence seems to have waned over the month of June, with #retail continuing GFC-level co… https://t.co/ZcUudSV1Wr

1 week ago

Franchisor #RetailFoodGroup has revealed a potential $160m recapitalisation with investment firm Soliton Capital Pa… https://t.co/gF05UyZP1m

1 week ago

Getting in on the growing trend of retailers expanding into kids categories, @Freedom_Au is launching a new range o… https://t.co/ALrRYYlHG5

2 weeks ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered