The Christmas crunch felt by bricks and mortar retailers didn’t come close to digital player Kogan.com.
Revenue at the pure-play online retailer jumped 45.7% to $209.62 million for the six months to December.
Profit was $8.33 million, up 470%. The bottom line benefited from not having $3 million of costs associated with an IPO.
The company says the increase in revenue was mainly driven by active customer growth and investments in inventory and marketing.
In early trade Kogan.com shares were up 10.6% to $8.00. The company listed on the ASX in 2016 at $1.80 a share.
Some retailers reported disappointing sales during the key Christmas and New Year period in Australia.
“At Kogan.com we are relentless in our mission to both continue to grow our existing businesses and to expand our portfolio,” the company says.
“With that in mind, the pace continues into the second half of the financial year.”
The company, founded by Ruslan Kogan, has been adding to its portfolio of products to sell to its customer base. This week the company announced the addition of health insurance.
The company has a suite of retail and services business units including Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Health and Kogan Travel.
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