Australia's Kogan.com set for worst day in 16 months on poor FY results

Kogan.com

22/08/2023 05:44

** Shares of Kogan.com  KGN.AX  fall as much as 15.6% to
A$4.82; set for worst day since April 29, 2022, if losses hold
    ** Online retailer reports 32% decline in FY revenue from
ordinary activities due to soft market conditions 
    ** KGN reports 26% decline in FY gross profit
    ** Stock hits lowest level since July 3
        ** More than 1.7 mln shares change hands, 2.8 times the
30-day average of 619,821 shares
    ** KGN has risen 63.1% so far this year, as of last close

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))