Pure-play online retailer Kogan.com’s full year revenue grew more than 40 per cent in 2018, according to a quarterly cash flow and trading statement.

That would put the full-year result, due to be announced next month, at $405 million compared with $289.5 million in 2017.

EBITDA earnings for 2018 were more than 90 per cent higher than 2017’s $12.5 million.

But it wasn’t enough for investors who sold down the stock today.

The shares were down 9 per cent at $6.01 by 12.45pm AEST. Kogan listed on the ASX in 2016 at $1.80 a share and has traded between $2 and $10 over the past year.

Kogan.com closed the year with active customers of 1,388,000 compared to 955,000 the year before.

“Kogan.com finished the financial year with a strong quarter of continued growth, as we execute our long term strategy,” says Kogan.com founder and CEO Ruslan Kogan.

“We are excited about all the growth initiatives we are implementing, as we continue to make the most in-demand products and services more accessible and affordable for our customers.”

At the end of June, the company had cash of $42 million and access to a $10 million bank facility.

In February, Kogan.com posted a 45.7 per cent jump in revenue to $209.62 million for the six months to December. Profit was $8.33 million, up 470 per cent.

Ruslan Kogan owns about half of the company.

Kogan.com has been expanding its portfolio offering, last month signing supply and logistics agreements which allow it to enter the Australian Whitegoods and Built-In Kitchen Appliance Market with its own range of exclusive brand price-competitive products.

The company has Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Health and Kogan Travel.

 

This article first appeared on Business Insider Australia, Australia’s most popular business news website. Read the original article. Follow Business Insider on Facebook or Twitter.

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