Sosandar posts 9 percent increase in full year revenues

Sosandar plc reported revenue of 46.3 million pounds, up 9 percent year-on-year and improved gross margin to 57.6 percent.

Sosandar believes that market expectations for the year ended 31 March 2024 are revenue of 46.8 million pounds and PBT of 0.1 million pounds.

Post year-end, the company said in a release that April trading has been strong with continued improvement in profitability driven in particular by gross margin.

Commenting on the full year trading update, Ali Hall and Julie Lavington, co-CEOs of Sosandar said: "We have delivered a robust financial performance for FY24, delivering a profitable second half, accelerating revenue growth whilst at the same time growing our margin and generating cash.”

“We fully expect that we will deliver more milestones in FY25 as we open our first physical retail stores and continue to take the Sosandar brand to more customers across the UK and worldwide," added Hall and Lavington.