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(Alliance News) - Sosandar PLC on Wednesday reported a record quarter which saw the womenswear retailer post a substantially narrowed loss.
The company was forced to cut marketing spend again in December "as restrictions became more severe".
Sosandar shares were 15% lower at 15.65 pence each in London on Wednesday morning.
In the three months to December 31, its third quarter and one that contains the crucial festive period, revenue rose about 4.7% to GBP4.0 million from GBP3.8 million.
This was done despite quarterly marketing spend being cut by 66% annually to GBP1.6 million.
Its loss before interest, tax, depreciation, and amortization slimmed by roughly 60%, Sosandar added.
"The company has delivered a record quarter for revenue and number of orders along with a substantial improvement in Ebitda versus the same period in the prior year," the company added.
"This record performance for a quarter, delivered against very strong prior year comparatives, has been achieved despite the challenging market backdrop and a significant reduction in marketing spend."
Its product range also saw "strong sales" on Next PLC and John Lewis Partnership platforms, Sosandar said.
The company added that it "does not expect to see any significant impact" from Brexit.
By Eric Cunha; ericcunha@alliancenews.com
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