Sosandar shares rise as expects to swing to full-year profit

(Alliance News) - Sosandar PLC on Tuesday said it has the foundations in place to deliver "sustainable, profitable and cash-generative growth", as it guided a swing to full-year profit.

The Cheshire, England-based online women's fashion brand reported GBP42.3 million in revenue for the financial year that ended March 31, up 14% from GBP37.1 million a year prior, but slightly below market expectations of GBP43.1 million.

Shares in the company closed 9.4% higher at 7.25 pence on Tuesday in London.

Sosandar said own site performed "particularly well", as revenue rose 24%. The company said its performance was driven by a combination of "increased traffic, improved conversion and increased order volumes from both new and existing customers".

The company expects to swing to a pretax profit of GBP400,000 for the financial year, from a GBP67,000 loss a year prior, falling in line with market expectations of GBP400,000.

"The board is confident in the company's strategy and believes the foundations are in place to deliver sustainable, profitable and cash-generative growth," said Sosandar.

By Christopher Ward, Alliance News reporter

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