Sosandar posts revenue rise of 30 percent

In its trading update covering the three-month period to December 31, 2022, Sosandar PLC said revenue was 11.6 million pounds, up 30 percent year-on-year.

The board confirms that the company continues to trade in line with market expectations for the current financial year. The board believes that consensus market expectations for the year ending March 31, 2023 are revenues of 42.8 million pounds and PBT of 2 million pounds.

Commenting on the trading update, Ali Hall and Julie Lavington, the company’s co-CEOs said: “We are pleased to be reporting another record trading performance for Sosandar and a fifth consecutive quarter of profitability for the group. The momentum built in H1 has continued and we are thrilled to report both strong revenue growth and improved margins compared with the first half of the financial year.”

The company witnessed strong revenue growth across all sales channels, with a new record quarter for third party partners and fifth consecutive quarter of profitability for the group.

Sosandar added that the average order value of 106.37 pounds, was up 11 percent reflecting customers buying into higher priced items and categories such as outerwear, tailoring and occasion wear.

The company reported improved gross margin at 56.8 percent, up from 55.8 percent in Q3 FY22 and a further improvement from 54.4 percent achieved in H1 FY23.