Online retailer Kogan sees 277% profit rise

By Olivia Minnock

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.

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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.

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