Despite delivering record sales revenue for the first half of FY22, online retailer Kogan.com (ASX: KGN) has seen a big fall in underlying profit as supply chain disruptions take their toll.
Underlying EBITDA dropped by 58 per cent year-on-year, with the company stating it has been “impacted by continuing supply chain interruptions as a result of the current COVID situation and associated fluctuations in demand”. Kogan’s gross profit of $112.4 million reflects a 4.6 per cent decline compared to the same time last year ($117.6 million). This is despite gross sales revenue surging more than 9 per cent to $698 million, primarily driven by the rapid scaling of its marketplace platform. www.businessnewsaustralia.com/articles/supply-chain-issues-woes-sees-kogan-profit-dive-58-per-cent.html
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