Kogan.com Ltd. (AU:KGN) has released an update.
Kogan.com Ltd. reports a significant recovery in profitability for FY24, with a profit before tax of $21.2 million—a remarkable $59.3 million shift from the previous year’s loss. This turnaround was propelled by a 23.3% increase in Gross Profit driven by platform-based sales and a substantial growth in subscriptions, alongside reduced operating costs and efficient cash management leading to a debt-free year-end position.
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