An online retailer that offers health, life, and funeral insurance has posted strong results for the first half of the fiscal year – driven by a growing client base, passing 1.1m; a significant investment in inventory leading to an expansion in product offerings; and gross margin improvement.
For the half year ended Dec. 31, Kogan.com reported a massive revenue growth of 45.7% year over year to $209.6m (1HFY17: $143.9m); and a 93.2% increase in trading earnings before interest, taxes, depreciation and amortization (EBITDA) to $14.1m from the prior year (1HFY17 Pro Forma EBITDA: $7.3m).
Meanwhile, Kogan's NPAT an NPATA were $8.1m and $8.8m, respectively – outperforming that of the prior corresponding period (1HFY17: Pro Forma NPAT and NPATA were $3.7m and $4.4m), and exceeding the full-year FY17 Pro Forma net profit after tax (NPAT) and net profit after tax and amortization (NPATA) of $7.2m and $8.6m.
As of Dec. 31, Kogan was in a strong net-cash position of $28.2m, with inventory levels of $69.8m.
“I’m incredibly proud of the Kogan.com team and the work they have been doing over the last few years as part of our investment in our infrastructure and our brand to drive our growing portfolio of businesses,” said Ruslan Kogan, founder and CEO of Kogan.com. “The business is in the best shape it’s ever been and our team is excited about our pipeline of initiatives that will further enhance our consumer offering.”
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