Kogan.Com Ltd (ASX: KGN) owns a portfolio of retail and services businesses which include Kogan Retail and Kogan Marketplace, both of which are offering more than 2,000 brands across a wide range of categories including consumer electronics.
Today, the company announced that it has amended its multi-option facility agreement with Westpac Banking Corporation (Debt Facility) to increase its facility from $20.0 million to $30.0 million. The company believes that this increased facility will provide Kogan.com with increased flexibility and opportunity for continued growth.
Following the release of this news, the share price of the company climbed up by over 9% during the day’s trade as on 23 April 2019.
Earlier on 27 November 2019, the company had announced regarding the renewal of its multi-option facility agreement with Westpac Banking Corporation for a term of three years.
Recently, the company reported that its business generated strong earnings growth in the March quarter. During the March quarter, the company kept on making its in-demand products and services more affordable and accessible. The Insurance revenue for the third quarter of FY19 increased by 73.6% on year-on-year basis.
For 3Q FY19, the company’s Gross Transaction Value growth was 17.5% as compared to the prior corresponding period (pcp). Further, the company reported Revenue growth of 9.5%, gross profit growth of 28.4%, operating costs of 4.4% and EBITDA growth of 96.4% in 3Q FY19 as compared to pcp.
During the quarter, the company arranged an insurance policy through a Syndicate Underwriter at Lloyd’s of London to insure its financial exposure under extended care policies sold since July 2018. During the March quarter, the company launched Kogan Energy Compare, which reflects its initial entry into the energy market, through the launch of an energy comparison tool enabling customers to simply upload an existing bill to see if any savings are available. A beta-version of the tool is currently available at the Company’s websites. The Company is planning to continue its exploration of a Kogan-branded energy offering in parallel.
With Eclipx Group Limited, the company has entered into a new partnership to launch and operate an innovative new service, Kogan Cars, which will secure new cars at competitive prices from dealers across Australia.
Now, let’s have a glance at the company’s share performance and the return it has posted over the past few months. The stock traded at a price of $5.860, up by 9.533% during the day’s trade with a market capitalisation of ~$501.45 Million as on 23 April 2019. The counter opened the day at $5.450 and reached the day’s high of $5.880 and touched a day’s low of $5.320 with a daily volume of ~2,366,569. The stock has provided a year till date return of 53.30% & also posted returns of 4.09%, 17.07% & 41.16% over the past six months, three & one-month period respectively. It had a 52-week high price of $9.800 and touched 52 weeks low of $2.610, with an average volume of ~ 828,270.
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