Sosandar PLC - Cheshire, England-based retailer - In the six months to September 30, net revenue jumps 72% to GBP20.9 million. It expects to report GBP100,000 in pretax profit, swinging from a GBP1.1 million loss a year earlier. "This performance, set against a challenging macroeconomic backdrop, illustrates that Sosandar has a proven, agile model and continues to execute successfully in line with its stated strategy," it says.
"We have a clear strategy in place and a proven ability to execute our plan. This gives the board the confidence that the group will continue to make progress and deliver profitable growth in line with full year market expectations," says Co-Chief Executive Officers Ali Hall and Julie Lavington.
Notes market expectations for financial year 2023 revenue of GBP42.8 million and pretax profit of GBP2.0 million. This compares to a financial year 2022 revenue of GBP29.5 million and a pretax loss of GBP554,000.
Sosandar's financial year ends on March 31.
Current stock price: 16.25 pence, up 14% on Tuesday
12-month change: down 41%
By Tom Budszus; tombudszus@alliancenews.com
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Sosandar (SOS)