This morning Kogan.Com Limited (ASX: KGN) reported its half-year results for the period ending December 31 2018. Below is a summary of the results with comparisons to the prior corresponding year.
- Net profit after tax of $7.4 million, down 11%
- Revenue of $231.8 million, up 10.6%
- EBITDA of $13.3 million, compared to $14.1 million
- Earnings per share of 8 cents
- Interim dividend of 6.1 cents, compared to 6.9 cents
- Grew active customers 376,000 (32.2%) to 1.542 million
- January 2019 unaudited revenue up 13%, gross profit up 19.9%, operating costs up 7.3%
This is something of a mixed result for the online retailer of discounted electronic goods, white goods, and other home or personal appliances.
Its entrepreneurial founder Ruslan Kogan blamed the operating profit fall on increased investments in the brand, marketing, and operating infrastructure (warehouses, etc), with positiveS being that it appears to have enjoyed a strong start to 2019, while active customer growth (+32%) is still strong.
The Kogan share price is down 2% to $4.30 in response to the news and has swung wildly between $2.61 and $10 over just the past year. As such investors could expect the stock to remain volatile in a retail space that also includes the likes of JB Hi-Fi Limited (ASX: JBH) and giant U.S. operator Amazon Inc.
