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Kogan further lifts forecast to over $10.5 million outperformed its full-year forecast for the 2017 financial year in the first half alone, generating $143.9 million in revenue, a 37.3  per cent jump from the prior corresponding half. has now further lifted its full-year forecast to between $10.5-11.5 million.

The pureplay online retailer previously upped its expectations for 2017 at its annual general meeting in November, from $6.9 million to between $8-9 million. The directors have revised their guidance again, following stronger than expected results in the first half.

In the six months ending 31 December, 2016, had a pro forma trading EBITDA of $7.3 million, compared to $2.6 million in the first half of FY2016. It had a pro forma trading NPAT of $3.7 million, more than doubling its $1.3 million in net profit after tax in the first half of FY2016.

The pro forma figures include adjustments for IPO transaction costs, listed company costs and historical governance costs. attributes its strong growth to investment in private label inventory levels following its IPO in July 2016. The retailer says it has taken an analytical approach to purchasing decisions, enabling it to respond to pent-up demand.

At 31 December, 2016, the retailer reported it held $42.4 million in inventory, of which 90 per cent was less than 90 days old. It expects inventory levels to support growth for the rest of the financial year and beyond and to be maintainable through operating cash flow.

“Following the IPO, we have sought to capitalise on growth opportunities in Private Label, while being disciplined in our purchasing decisions,” founder Ruslan Kogan said.

“Most of the products ordered with the IPO proceeds arrived in our warehouse in the second quarter and, as a result, that quarter saw strong growth in the Private Label product division.”

Other key drivers of’s first-half growth include the growing number of active customers to 830,000, the ability to personalise offers through its proprietary e-commerce platform, growth in its mobile offering and back-end efficiencies in the business.

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