Kogan.com (ASX:KGN) gross sales double

Online retailer, Kogan.com (ASX:KGN) has released an impressive trading update for the fourth quarter-to-date. Compared to the same period last year, Kogan’s gross sales grew by more than 100 per cent.

Gross profit rose by more than 130 per cent.

EBITDA increased by more than 200 per cent.

In addition to the strong trading results, Kogan’s balance sheet looks healthy. Cash was $58.6 million as at 31 May 2020, with the company’s debt facility drawn to $26 million.

Shares in Kogan.com (ASX:KGN) are trading 11.93 per cent higher at $12.76.
 
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Source: Finance News Network