Sosandar full year sales soar by 103 percent

Online women’s fashion brand Sosandar PLC posted revenue growth of 103 percent to 9.03 million pounds for the year to March 31, 2020. While gross margin was 48.5 percent, EBITDA loss reached 7.66 million pounds. Sosandar said in a statement that in the first quarter of new fiscal, the company increased year on year revenue by 54 percent while reducing operating costs by 71 percent to help drive a 69 percent improvement in its loss position.

Commenting on the full year and current trading, Ali Hall and Julie Lavington, the company’s Joint CEOs, said: “We’re delighted to report another year of growth, and one in which we achieved a significant shift in terms of customer base and infrastructure, providing stronger foundations for continued future growth. The resilient performance achieved throughout Q1 has continued into Q2 of our current financial year. We remain cautiously optimistic about the coming months and more excited than ever about the longer-term prospects for Sosandar.”

For the full year, the company’s active customer grew by 111 percent to 131,811, while there was 128 percent increase in web visits to 8.03 million and 108 percent increase in orders to 214,487.

The company further said that first quarter performance has continued during July with revenue up 57 percent year on year, margin of 55.5 percent, operating costs reduction of 84 percent against the prior year and 83 percent improvement in net loss position.

Picture:Facebook/Sosandar