Online women’s fashion brand, Sosandar plc reported revenue growth of 184 percent to 12.2 million pounds for the first half year, higher than the entirety of FY2021. The company’s gross profit of 6.9 million pounds, increased 207 percent compared to the same period in the prior year.
Sosandar said, EBITDA improved to a 0.99 million loss against a comparative period in the prior year and gross margin improved to 56.5 percent compared to 52.3 percent in the prior year’s first half period.
Commenting on the half year trading update, Ali Hall and Julie Lavington, the company’s co-CEOs said: “We are delighted to be reporting such strong revenue and active customer growth as well as reaching a significant milestone in delivering two EBITDA positive months in October and November. The company is trading ahead of market expectations for the full year and we look forward to a successful second half and beyond.”
The company added that revenue for the period between October 1 to November 29, 2021 were up 120 percent on the same period in 2020, reflecting consecutive record months. The company witnessed positive EBITDA in both October and November, demonstrating the group’s trajectory towards annual profitability.
Sosandar believes that market expectations for the year ending March 31, 2022 prior to publication of this announcement are currently revenue of 24.4 million pounds and an EBITDA loss of 1.2 million pounds.