Australia's Kogan.com hits 17-month high on upbeat results

Kogan.com

26/07/2023 03:39

** Shares of online retailer Kogan.com  KGN.AX  jump as much
as 9.8% to A$6.39, their highest level since Feb 16, 2022 
    ** KGN says its H2 adjusted EBITDA was A$11.2 mln ($7.56
mln), compared with A$1.6 mln a year ago
    ** Operational efficiency was improved during the year as
the business re-calibrated its operations to the prevailing
market conditions - KGN
    ** Co's H2 gross profit and gross sales, however, fall 22.5%
and 3.6%, respectively 
    ** KGN tops gains in the ASX All Ordinaries index  .AORD 
    ** Stock posts its biggest intraday pct gain since April 27
    ** Nearly 800,000 shares change hands, vs the 30-day average
volume of ~506,000 shares
    ** KGN up 66.3% this year, as of last close
    
    ($1 = 1.4824 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))