Australia's Kogan.com set for best day in 1-1/2 years on HY gross profit growth

Kogan.com

24/01/2024 24:48

** Shares of Kogan.com  KGN.AX  rise as much as 14.9% to
A$5.020, hitting their highest level since Jan 11
    ** Stock currently up 14.4%; sees best day since July 28,
2022, if gains hold
    ** Retailer reports 1HFY24 gross profit of A$89.5 mln($58.90
mln), up 42.1% YoY
    ** Co, however, reports decline of 5.6% in gross sales to
A$445.4 mln
    ** About 779,000 shares change hands, compared with the
30-day average volume of nearly 433,500 shares
    ** Stock had fallen 16.4% this year, as of last close

($1 = 1.5195 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))