Sosandar posts strong revenue growth
Women’s fashion retailer Sosandar has seen its revenue rise by 407% to £1.84 million in the six months to 30 September as it made good progress on its growth plan.
Gross profit climbed by 498% to £1.01 million in the half year although the company reported an underlying EBITDA loss of £1.96 million compared to a loss of £1.11 million in the same period last year.
During the period Sosandar increased its number of SKUs by 20% and broadened its size range. It also transferred to a new ecommerce platform which has improved its website’s functionality.
The company said costs as a percentage of revenue significantly decreased over the half-year.
Ali Hall and Julie Lavington, Sosandar’s joint chief executives, said: “We have set out a clear growth plan and are delivering on it. The exceptional growth in revenue, increased average order values and surge in repeat orders is evidence of how well we are engaging with an underserved market of women and testament to the quality and unique design of our products. It is pleasing that increasing sales have been matched by strong advances in efficiency throughout the business."
Looking at more recent trading, Sosandar said the sales momentum had continued beyond the period with strong trading in the autumn across all product categories including partywear.
Hall and Lavington added:” We are very excited by Sosandar’s long term prospects and look forward to the rest of the financial year with confidence.”
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