Sosandar PLC - Cheshire, England-based online women's fashion brand - Reports "very strong" first half of its financial year, with revenue more than doubling year-on-year to GBP12.2 million from GBP4.3 million. September was a record revenue month due to accelerated demand for new season products. In the six months to September 30, website visits up 67%, repeat buyer order frequency up 14% to 3.85 times, and conversion rate increased to 3.91% from 2.58% a year prior. Active customers up 41% since March. Net cash GBP7.3 million at September 30, compared to GBP9.1 million at June 20 and GBP4.3 million at the same point last year. Sosandar says drop on June reflects execution of its plan to increase inventory in order to meet growing demand.
"We are delighted to report another strong period for Sosandar with enhanced sales delivered across our entire product range as customers begin to return to the office and attend events," says co-chief executives Ali Hall and Julie Lavington. "After over a year in loungewear our customers are clearly enjoying a return to fashion."
Current stock price: 29.25 pence, up 16% on Thursday afternoon
Year-to-date change: up 75%
By Josie O'Brien; josieobrien@alliancenews.com
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Sosandar (SOS)