For FY17, Ltd Strong growth from Kogan mobile

Strong growth from Kogan mobile: For FY17, Ltd (ASX: KGN) reported a robust result with 37.1% yoy (year on year) growth in statutory revenue at $289.5 million, while posting Pro Forma EBITDA of $13.2 million (adjusting for one-off transaction costs associated with its Initial Public Offering in July 2016 and unrealized foreign exchange gains and losses). Pro Forma EBITDA was thus up 230.0% on prior year (FY16: $4.0 million) and up 91.3% on Prospectus forecasts, reflecting revenue growth and margin expansion. Further, Pro Forma NPAT of $7.2 million significantly outperformed Prospectus forecasts of $2.5 million. Gross margin was 17.9%, exceeding the Prospectus forecast, driven by precision demand planning to build Private Label inventory, automation initiatives and the accelerated growth of Kogan Mobile. Group’s strong commercial relationship with Vodafone is translating into growth for Mobile segment.   


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