Australian Investment Blog
ASX:KGN 24/07/2018
Kogan.com slips
Stock
Kogan.com (KGN) $6.16 as at 24/07/2018
Event
Currently trading around 7% lower today, online retailer Kogan appears to have hidden a small miss to FY18 earnings within this morning’s quarterly cash flow & trading update announcement. The company released unaudited figures for the financial year, implying revenue to be $404mil and EBITDA just shy of $24mil, while the market was looking for $415mil and $27mil respectively. Although EBITDA is expected to grow 90% for the year, it still represents a ~10% miss to expectations, and as we have seen in the past, growth companies are stung by the market when results fall short. Coupled with the miss, the announcement was light on detail as investors with more commentary and clarity expected in next month’s full year result.
Kogan.com (KGN) Chart
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