Kogan’s third quarter revenue up 46.1 per cent

Image source: Kogan Facebook

KoganKogan.com’s third quarter sales were up 46.1 per cent on the prior corresponding period, the company said in a trading update on Monday morning.

Strong growth from Kogan Mobile helped drive a 49.8 per cent increase in gross transaction value for the quarter ended 31 March.

There are now 1.28 million active customers shopping with Kogan and the business ended the quarter with $19.3 million in cash.

Founder and chief executive Ruslan Kogan said the company is positioned for a strong end to the financial year.

“Kogan.com commenced the new calendar year with a strong quarter of continued growth as we executive our long-term strategy. Our team is delighting customers across the board and our portfolio strategy is starting to gain strong momentum,” Kogan said.

“The business is poised to continue its growth trajectory into the seasonally strong end-of-financial-year quarter.”

Kogan reduced its inventory by $15.1 million in the third quarter, finishing the period with $54.7 million in stock, which drove a reduction in trade and other payables – down $20.6 million to $30.8 million.

Kogan shares fell almost 5 per cent in early trading on Monday.

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