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Kogan.com (ASX:KGN)- Founder and CEO, Ruslan Kogan - The Market Herald
Founder and CEO, Ruslan Kogan
Source: The New Daily
  • Online retailer Kogan.com (KGN) has seen its largest monthly increase in active customers for the month of August
  • Active customers have grown to over 2.4 million as of the end of August, which is an increase of 152,000
  • The month was a very positive month, with Kogan seeing its gross sales increasing by more than 117 per cent compared to this time last year
  • Gross profit also increased by more than 165 per cent in August 2019
  • Kogan said that the growth has reflected from the company spending the most its ever spent on marketing
  • On the market this afternoon, Kogan is up 8.48 per cent and is trading for $20.86 per share

Kogan.com (KGN) has seen its largest monthly increase in active customers for the month of August.

Active customers have grown to over 2.4 million as of the end of August, which is an increase of 152,000, the company's largest monthly increase.

The month was a very positive month, with Kogan seeing its gross sales increasing by more than 117 per cent compared to this time last year. Gross profit also increased by more than 165 per cent in August 2019.

Kogan said that the growth has reflected from the company spending the most its ever spent on marketing.

The company also reported its earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by more than 466 per cent compared to August 2019.

Kogan has had an excellent year due to online shopping increasing because of COVID-19.

The company reported gross sales of $768.9 million for the 2020 financial year, which is up 39.3 per cent on the prior year. Revenues also jumped 13.5 per cent to $497.9 million.

On the market this afternoon, Kogan is up 8.48 per cent and is trading for $20.86 per share at 12:57 pm AEST.


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