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.
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.