Kogan.com posted record sales over Christmas, but its share price just dropped

Ruslan Kogan (r) fishing with his dad Alex. Image: Supplied

Pure-play online retailer Kogan.com had record breaking Christmas sales, according to preliminary numbers.

Founder and CEO Ruslan Kogan says he’s pleased with the December quarter performance.

ā€œIā€™m very proud of the entire Kogan.com team for achieving a record breaking quarter this Christmas sales season,ā€ says Kogan.

At the close, Kogan.com shares were down 4.7% to $6.48. The company listed on the ASX in 2016 at $1.80.

The company produced a net operating cash flow of $4.2 million for the quarter. At the end of December, Kogan.com had cash of $28.2 million, and access to a $10 million bank facility.

Deatil on the Christmas sales will be released when Kogan.com announces half year results next month. In August, the company posted a full year after tax profit of $3.74 million, a 362.3% rise.

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