Australia's Kogan.com hits 3-month high on upbeat forecast

Kogan.com

24/11/2022 04:22

** Shares of Kogan.com Ltd  KGN.AX  rise as much as 14.9% to
A$3.94, their highest level since Aug 22 
    ** Stock eyes biggest pct rise since July 28, if gains hold
    ** The online retailer says it is "confident" about H2
performance in 2023  urn:newsml:reuters.com:*:nASXxSK6z
    ** KGN says it returned to positive operating cash flows of
about A$61.8 mln ($41.81 mln) at FY22-end aided by strong sales
    ** "We plan to have the Kogan Group return to the historic
growth trajectory and profitability" - KGN
    ** Co sees significant opportunities in Kogan Marketplace
including a new advertising platform in the second half of FY23
    ** About 1.1 mln shares change hands, compared with the
30-day average volume of 295,000
    ** Stock has fallen 61.1% this year, as of last close
($1 = 1.4782 Australian dollars)
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.Ojha@thomsonreuters.com))