Australia's Kogan.com faces worst day in nearly 3 months after HY results

Kogan.com

24/01/2023 24:36

** Shares of Australia's Kogan.com  KGN.AX  fall as much as
6% to A$4.07 - set to mark worst session since Oct. 27 if losses
hold
    ** Online retailer posts HY adjusted EBITDA loss of A$4.4
mln ($3.09 mln), compared with a profit of A$17.4 mln a year ago
    ** Co reports gross profit of A$62.9 mln
    ** RBC had expected adjusted EBITDA profit of A$7.1 mln and
gross profit A$81.4 mln
    ** KGN says HY gross sales fell by 32.5% to A$471.1 mln
    ** Co to optimise operating costs progressively through
second half of HY
    ** In 2022, stock tumbled 60.3% 
($1 = 1.4229 Australian dollars)
 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))