Kogan profit falls 86 per cent on bloated inventory costs
Inside Retail
AUGUST 23, 2021
Kogan’s bloated inventory and logistics costs severely impacted its profitability in FY21, with net profit plummeting 86.8 per cent to $3.5 million (compared to $26.8 million the year prior). Without taking these impacts into consideration, adjusted NPAT rose 43.2 per cent to $42.9 million off the back of a record breaking sales effort – up 52.7 per cent to approximately $1.18 billion.
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