Kogan Group founder and CEO Ruslan Kogan says the online marketplace is back to sustained growth after its challenging post-Covid trading era.
First-half gross sales rose 10.3 per cent to $492.5 million, and revenue was up 9.9 per cent to $272.7 million during the six months to December 31. Gross profit grew 18.3 per cent to $106 million after the company’s gross margin rose by 2.8 percentage points to 38.9 per cent. Attributable net profit grew 19 per cent to $10.3 million.
“Having returned the company to profitability in FY24, I’m pleased to report today that we have built on that momentum and returned the business to strong sales growth in 1HFY25,” said Kogan.
“This was achieved through disciplined execution, operational efficiencies, and strategic initiatives that we expect will continue to drive sustainable growth into the future.”
Meanwhile, in New Zealand, Kogan has appointed Robert McEwan as MD of its Mighty Ape subsidiary, which generated $73.9 million of revenue, a gross profit of $20.3 million and an adjusted EBITDA of $1.9 million during the half due to the upgrade of its marketplace platform which is now complete.
McEwan is currently the GM of operations and customer service at Mighty Ape, and his appointment came after Daniel Balasoglou resigned from his position as CEO.
