Revenue rise for online women’s fashion brand Sosandar as pre-tax losses cut



Online women’s fashion brand Sosandar grew its revenue and cut its pre-tax losses during the listed company’s latest financial year. The Wilmslow-headquartered business has reported a revenue of £12.1m for the 12 months to March 31, 2021, up from £9m during the prior year. The company’s pre-tax losses were also slashed from £7.8m to £3m over the same period. In a statement, Sosandar said the growth in revenue represents a “strong performance in a volatile trading environment”. It added that its EBITDA loss going from £7.66m to £2.92m was as a result of increasing scale, improved return on investment from its marketing and an ongoing focus on cost management. During the year the company successfully launched partnerships with John Lewis, Next and M&S. Sosandar has also reported a record first quarter of its new financial year in terms of revenue. Revenue totalled £5.7m for the three months, a rise of 256% compared to the same period in the prior year.
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In a joint statement issued to the London Stock Exchange, co-founders and co-chief executives Ali Hall and Julie Lavington said: “We are delighted to report a year of very strong growth and performance alongside considerable operational progress. “We have continued to expand and further diversify our product range, using targeted spending to maximise ROI and demonstrated strong cash retention, resulting in a significant growth in revenue and reduction in EBITDA losses. “The performance of our team over the last year has been truly exceptional and we are incredibly proud of what they have achieved. “Whilst there is wider uncertainty around the ongoing effects of the pandemic, we are incredibly optimistic about what the future holds for Sosandar. “Following the fundraise in May, we now have the financial flexibility to allow us to accelerate growth with third parties.

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“Alongside this, we delivered a record first quarter of trading in Q1 FY22 with strong sales in colourful dresses, tops and denim as our customers prepare for the summer months. “With a clear growth plan and numerous opportunities ahead of us, we are now well placed to accelerate towards profitability.” Chairman Bill Murray added: “Looking ahead, we remain confident and excited about the group’s positive outlook. “We have demonstrated our flexibility this year and as a result have emerged as a more mature, agile and resilient business, positioning us well to react to potential future changes in the external environment and capitalise on the numerous exciting, long term growth opportunities. “In view of the continuing uncertainty surrounding the extent of the impact of Covid-19, we continue to plan cautiously for a wide range of outcomes.
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“As we have done since March, we will endeavour to manage the business carefully, foster our partnerships and continue to grow our existing customer base. “The board is therefore confident that there is a successful year of growth ahead and an exciting long-term future for Sosandar.”



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