Sosandar PLC - online women's fashion brand based in Cheshire - Revenue rises 52% year-on-year in six months ended September 30 to GBP4.3 million and Ebitda loss improves substantially. First quarter sales momentum continues into August and September, with revenue up 7% July to August and 54% August to September. Initial trading with Next and John Lewis "very promising"; initial ranges already expanded. "Carefully controlled customer acquisition " begins in September with "excellent" early results. Record trading achieved on two days in September plus record monthly sign ups to Sosandar's customer database. Year-to-date returns 42% compared to 49% same period year before. Gross margin in half-year dips slightly to 52.3% from 53.6% the year before, "driven by actions in the early weeks of lockdown to address the impact of Covid-19". Net cash maintained at GBP4.3 million.
Co-CEOs Ali Hall & Julie Lavington: "Notwithstanding the continued uncertainty, we continue to believe that we can take significant market share within our demographic, particularly as the lockdown period escalated growth in online retail. We remain confident in what the future holds for Sosandar."
Current stock price: 15.55 pence
Year-to-date change: down 42%
By Anna Farley; annafarley@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Sosandar (SOS)