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Sosandar expects to reports FY22 sales and earnings ahead of market expectations

By Prachi Singh

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Business

Image: Sosandar, Facebook

Online women’s fashion brand Sosandar, in its trading update for the financial year ended March 31, 2022 said, the company delivered its second consecutive EBITDA positive quarter in Q4 FY22 with very strong trading across all channels.

As a result of this successful trading period, the company’s board now anticipates reporting revenue and EBITDA for the full year ahead of market expectations. The company expects to report revenue in excess of 29 million pounds, up 138 percent year on year and EBITDA loss reduced by over 80 percent from a loss of 2.92 million pounds in FY21. Sosandar said that the market expects the company to post revenue of 27.1 million pounds and an EBITDA loss of 0.9 million pounds.

Commenting on the update, Ali Hall and Julie Lavington, Sosandar’s Co-CEOs said in a statement: “We successfully executed our strategy across our own site and third parties, building momentum in H2 and ultimately delivering our first six months of profitability which is a pivotal moment for us all. This outstanding performance means we now anticipate FY22 results to be ahead of current market expectations.”

Highlights of Sosandar's FY22 results The company added that Sosandar.com saw number of orders increase by 84 percent to 508,473, repeat orders increase of 93 percent to 366,848, conversion rate increase to 3.9 percent from 3.1 percent, average order frequency increase by 10 percent to 2.28 times per annum and average order value of 90.39 pounds, up 9 percent from 82.70 pounds in the prior year.

Gross margin rose to 56 percent from 48 percent in the covid impacted prior year

The company further said that following its successes with third party partnerships to date, Sosandar has extended its relationship with Next PLC, with Sosandar products to be sold through Next’s ‘Platform Plus’. Sosandar has also commenced a wholesale agreement with The Very Group from March 2022.

Sosandar