With profit up more than 12%.
Kogan.com has confirmed strong sales from Kogan Marketplace, continued growth in Exclusive Brands, significant preparatory work to launch new verticals and new partnerships, in the final quarter of FY19.
Based on unaudited management accounts, Kogan achieved 15.9% year-on-year active customer growth, reaching 1.609 million customers as at 30 June, 2019. Gross profit growth was more than 12%, while EBITDA growth was more than 25%.
Exclusive Brands revenues in 2HFY19 grew by more than 30% compared to 2HFY18. The whitegoods and built-in kitchen appliance category is currently the second largest category for the Exclusive Brands division.
The company has expanded its logistics footprint to 13 fulfilment centres to enable faster and cheaper delivery, while servicing more locations.
Kogan.com has formed a US-domiciled subsidiary with a view to supplying wholesale Exclusive Brand products to US-based retailers. First orders have already been received.
Kogan.com founder and CEO, Ruslan Kogan said the team is relentlessly pursuing its goal to make the most in-demand products and services more accessible and affordable.
“In contrast to what has been reported as a tough retail environment, we have been able to grow the business and earnings while investing in the Kogan.com customer experience and enabling our long term strategy.
“The launch of Kogan Marketplace is proving to be a transformational step for our business. It gained momentum during the quarter and we have been overwhelmed by the response from both sellers and customers.”
Kogan will soon be launching Kogan Credit Cards, Kogan Super and Kogan Mobile New Zealand. Kogan Cars was launched before the end of June and Kogan Energy is set to launch before the end of calendar year 2019.