Mighty Ape proves worth as Kogan flounders

Gracie MacKinlay took over as CEO of Mighty Ape from founder Simon Barton in June of this year. (Image: Supplied)

Tue, 23 Aug 2022

Mighty Ape earned its stripes in its first full reporting year as a subsidiary of Australia's Kogan Group, accounting for 21.2% of its parent’s gross profit for the financial year ended June 30, 2022.The online-only retailer, which was bought by Kogan in 2021 for A$122.4 million (NZ$136.3m), posted a net profit of A$7.3m for the period out of a gross profit of $39.1m.Mighty Ape’s revenue for the period was A$163.4m, 22.7% of Kogan’s overall A$718.5m revenue.By comparison, Trade Me’s marketplace revenue in the June 20...

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