Australia's Kogan.com soars on robust FY results

Kogan.com

26/08/2024 03:25

** Shares of Kogan.com  KGN.AX  surge as much as 14.3% to
A$4.96, set for their best day since Feb 26 - if current trend
holds 
    ** The online retailer reports FY adjusted net profit of
A$21 million ($14.25 million), compared to a loss of A$4.3
million the previous year; declares a dividend of 15 AU cents
per share   
    ** Co's revenue growth of 15.6% in July is 6% ahead of the
Visible Alpha consensus, cited by Citi 
    ** "The trading update was solid, with the company reporting
revenue growth ahead and margin uplift above expectations," Citi
analysts write 
    ** Stock has fallen ~17% this year as of last close


($1 = 1.4738 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))