Online electronics retailer Kogan.com says it has enjoyed record sales and strong cash flow during the Christmas season.
Kogan, which also sells various non-electronic goods, insurance and travel deals, ended the December quarter with $28.2 million in cash and a net operating cash flow of $4.2 million.
Chief executive Ruslan Kogan said it had been another record-breaking quarter and the company has a strong level of in-demand inventory.
“With sales hitting record after record, it demonstrates how compelling our offering is for customers,” Mr Kogan said.
Shares in Kogan initially rose during early morning trade before losing ground to be one cent, or 0.15 per cent, lower at $6.79 by 1135 AEDT on Monday.
The company said about 93 per cent of its $55.8 million worth of inventory in warehouses was less than 90 days old as at December 31, while another $13.8 million worth of items were in transit.
Kogan, which sells on eBay, and more recently on the newly launched Amazon Australia website, made a net profit of $3.7 million for 2016/17, more than quadruple what it made a year earlier, thanks to a 37.1 per cent revenue jump to $289.5 million.
In November, the company said its revenue for the four months to the end of October grew by 36.2 per cent and its earnings before interest, taxes, depreciation, and amortisation was up 58.3 per cent against the prior year’s pro-forma EBITDA.