Mighty Ape’s profits rise as sales sink in Kogan.com quarterly update

The warehouse of online retail business Mighty Ape in Albany, Auckland. (Image: Jason Oxenham)

Fri, 26 Apr 2024

Despite a significant sales drop, Mighty Ape’s profits rose 5% in the April quarter.The New Zealand e-retailer's gross profit grew 5% to A$9.2 million (NZ$10.07m) compared with the March quarter last year, according to a trading update from Australian securities exchange (ASX) listed parent company Kogan.com.This growth came despite gross sales falling 9.2% to A$30.4m.Mighty Ape also recorded a decline in active consumers to 710,000, down from 760,000 at the same time last year.Kogan did not provide commentary in the ASX, and Mig...

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