Online retailer Kogan sees 277% profit rise
Australian online retailer Kogan.com has reported a surge in its annual profit of 277%.
In comparison to last year, the ecommerce company’s profit rose to $14.1mn. Meanwhile the company’s active customer base reportedly increased by 45.3% to 1.39mn customers.
Kogan.com, which owns a range or retail and service businesses, is one of the biggest online shopping companies in Australia. The company’s sectors include Kogan Retail and Kogan Marketplace; Kogan Mobile; Kogan Internet; Kogan Insurance; Kogan Health; and Kogan Travel.
See also:
Why ecommerce will continue to outstrip physical retail in Australia
ANZ’s four most powerful retailers named
Read the latest edition of Business Chief ANZ
Shareholders are set to receive a 60% increase on dividends in comparison with last year.
Kogan.com’s founder and CEO, Ruslan Kogan, said: “We now operate in more industries than very with a very compelling offer in each industry. We continue to invest in our brand to drive our growing portfolio of businesses and improve our value proposition.”
The news follows Kogan and CFO David Shafer selling their own stakes in the business earlier this year, which saw a fall in share prices but this has since recovered.
- Consumer spending trends could spell the end of Black FridayLeadership & Strategy
- Meet Vipshop – China’s best and most sustainable employerSustainability
- Klarna kickback: 5 winning BNPL strategies for retailersLeadership & Strategy
- Why brands, retailers must step into the metaverse – WRCTechnology
