Kogan grows revenue 46 per cent on diversification

Kogan grows revenue 46 per cent on diversification

Kogan.com (ASX: KGN) is in a strong position to close out the financial year after revealing today that it's third-quarter revenue increased by more than 46 per cent.

The online retailer ended 3Q18 with an unaudited gross transaction value growth of 49.8 per cent and a customer base exceeding 1.28 million active shoppers.

Although the company's trade payables decreased significantly due to inventory fallout from the Christmas trading period, CEO and founder Ruslan Kogan said 3Q18 was a generally strong quarter.

"Kogan.com commenced the new calendar year with a strong quarter of continued growth as we execute our long terms strategy," said Kogan.

"Our team is delighting customers across the board and our portfolio strategy is starting to gain strong momentum."

Kogan.com has been especially busy over the past fortnight, adding NBN as well as pet and life insurance to its ever-growing portfolio.

Through its partnership with Vodafone, Kogan now provides branding and marketing services for NBN plans while Vodafone provides network access and customer support.

Kogan's pet and life insurance services will be officially available to customers before the end of the financial year.

Kogan paid an interim dividend of 6.9cps on 13 March.

KGN shares opened at $9.24 on Monday morning.

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Business News Australia

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