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Sosandar posts revenue increase of 122 percent

By Prachi Singh

Jan 6, 2022

Sosandar plc reported a revenue increase of 122 percent to 8.85 million pounds against Q3 FY21. The company said in a statement that trading throughout the period, including post-Christmas and into early January, has been strong.

Commenting on the trading update, Ali Hall and Julie Lavington, the company’s co-CEOs said: “We are delighted to report a record quarter for Sosandar, with each month being EBITDA positive. Our expanded product range and effective communication with our customers, in line with our strategy, has been a key driver of the growth we have delivered.”

The company’s active customers increased by 62 percent year on year to 213,715, average order frequency increased by 12 percent to 2.23 times per annum and average order value of 95.18 pounds, was up 13 percent from 84.51 pounds in the prior year. Sosandar also reported strong trading with third parties M&S, Next and John Lewis.

Sosandar added that sales of partywear were very strong pre-Christmas followed by an increase in activewear and more casual clothing post-Christmas, along with sustained strong sales of knitwear, outerwear, dresses, boots, denim and leather. As a result, the board confirms that the company continues to trade in line with recently upgraded market expectations for the current financial year.