Mighty Ape weighs down Kogan.com earnings

Founder and CEO of Kogan.com, Ruslan Kogan. (Image: Michael Craig)

Mon, 29 Jul 2024

Mighty Ape, the New Zealand segment of Australian e-commerce and services company Kogan.com, is taking longer to recover than its parent.In a fourth-quarter trading update on the Australian Securities Exchange (ASX), released on Monday, Kogan.com said annual adjusted earnings before interest and taxes (ebit) increased to A$25 million ($27.8m) from a loss of A$9.8m in the 2023 financial year.This was despite the NZ segment, bought by Kogan.com in 2020 for A$122.4 million (NZ$128.3m), continuing to weigh on earnings growth.Kogan.com s...

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