Online retailer Kogan (ASX: KGN) entered a trading halt today shortly after reporting an $11.9 million loss for the December half - a period that is usually its busiest between Christmas and Black Friday sales, in which it had never before been in the red since listing on the ASX in mid-2016.
The company attributed the loss to continuing supply chain interruptions as a result of the current COVID situation.
This followed an FY21 result that was still in the black at $3.5 million but represented an 86.8 per cent year-on-year fall as the bottom line was pushed down by "one-off" inventory, logistics and Mighty Ape acquisition costs.
Read More: https://www.businessnewsaustralia.com/articles/kogan-books-first-december-half-loss-since-ipo.html
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