In an ASX filing Kogan.com Ltd (ASX: KGN) released its unaudited results for the final quarter of its 2018 financial year (FY18) revealing “strong” growth, according to Founder and CEO Ruslan Kogan.
Kogan.com is a leading online retailer of everyday goods from mobile phones to health insurance and TVs.
Based on unaudited results, Kogan.com Ltd expects to report more than 40% growth in sales revenue for the year to June 30th, 2018. Meanwhile, adjusted operating profit (EBITDA) is forecast to be 90% higher than last year.
Pleasingly for investors, Kogan said it ended the year with around $42 million of cash and had nearly 1.4 million active customers.
“Kogan.com finished the financial year with a strong quarter of continued growth, as we execute our long term strategy,” Kogan founder Ruslan Kogan said.
Kogan expects to provide more colour on the results in August and at the AGM in November. However, Mr Kogan said recent marketing and sales initiatives are tracking well.
“We are excited about all the growth initiatives we are implementing, as we continue to make the most in-demand products and services more accessible and affordable for our customers,” Mr Kogan concluded.
In April, Kogan launched
its NBN style telco products as it continues to expand its product line-up in the face of potentially rising competition from US e-commerce giant, Amazon.com Inc
(NASDAQ: AMZN).
Kogan now offers a wide variety of services for every household to sign up to. The anything-you-could-want idea appears to be resonating with shareholders as the share price has risen 200% over the last 12 months, according to Google Finance.
