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.
- Lifetime of Achievement: Tadashi Yanai, CEO, Fast RetailingLeadership & Strategy
- What to know about the next generation of consumers in IndiaCorporate Finance
- Consumer spending trends could spell the end of Black FridayLeadership & Strategy
- Meet Vipshop – China’s best and most sustainable employerSustainability
Featured Articles
Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity
On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it
Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist