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LONDON (Alliance News) - Sosandar PLC on Wednesday said its loss widened in the first half of its current financial, but revenue multiplied on higher order intake.
The women's fashion brand reported a widened loss to GBP2.0 million in the six months to the end of September from GBP1.1 million loss in the same period a year ago, as administrative expenses jumped to GBP3.0 million from GBP1.3 million.
Revenue jumped to GBP1.8 million from GBP364,000 year-on-year, helped by a 9% increase in average order value to GBP105.42.
Number of orders also improved to 43,979 in the first half, compared to 8,049 reported a year prior. Customer numbers quadrupled to 24,853 from 5,375.
"It is pleasing that increasing sales have been matched by strong advances in efficiency throughout the business," said Co-Chief Executives Ali Hall and Julie Lavington.
"We are very excited by Sosandar's long-term prospects and look forward to the rest of the financial year with confidence," added Hall and Lavington.
Sosandar shares were trading up 8.1% on Wednesday at 36.75p each.
