Tuesday, 25 July 2017 11:40

Kogan boosts cashflows with strong quarter Featured

Ruslan Kogan Ruslan Kogan

Online discounter Kogan has beaten forecasts for the three months to the end of June, producing new operating cashflows of $9.9 million for the quarter.

This is Kogan’s (ASX:KGN) fourth quarter of trading as a public company and founder and chief executive Ruslan Kogan says the company is pleased to demonstrate ‘better than forecast” operating results for the quarter as a listed company.

“We have closed out our first financial year as a listed company with strong trading momentum, and some very exciting growth opportunities. We look forward to continuing this trend into FY18 and beyond,” Kogan says.

The company reported what it says was continued strong trading momentum in 4Q17 with the business exceeding revised management budgets and producing net operating cash flows of $9.9 million.

Kogan says the company remains in a strong financial position at 30 June, with cash of $32.0 million, and access to a $10.0 million bank facility that remains undrawn.

Inventory of $38 million for the quarter was reported by Kogan, comprising $30 million of inventory on hand and $7.5 million of  inventory in transit.

Kogan said trade and other payables and deferred income also had a positive impact on the operating cash flow, with increases of $2.8 million and $2.1 million respectively from 31 March to 30 June.

In February, Kogan reported a statutory after-tax net profit of $1.5 million for 1H17 on revenues of $143.9 million and growth in its active customer base to 830,000, up 18.2% from 30 June 2016, and driven by what it said was “strategic marketing initiatives and growth in the Kogan brand”.

Ruslan Kogan said at the time the results demonstrated the company was on track to continue to build the Kogan.com business in line with its long-term business strategy.


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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).



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