Sosandar revenues soar in Q3

Sosandar

9.25p

16:55 14/11/24

-5.13%

-0.50p

Online women's fashion brand Sosandar said on Thursday that revenue had soared in the three months ended 31 December, leading the group to a record quarterly performance.

Sosandar said revenues were up 122% year-on-year in the third quarter at £8.85m, helping the firm deliver its first underlying earnings-positive quarter and putting it on track towards full-year profitability.

The AIM-listed firm also highlighted record trading with third parties M&S, Next and John Lewis, following "significant investment" in stock depth and breadth.

Gross margins were also strong at 55.8%, up from 43.6% in the third quarter of the prior trading year.

Co-chief executives Ali Hall and Julie Lavington said: "We are delighted to report a record quarter for Sosandar, with each month being EBITDA positive.

"We continue to trade very well, with our expanded product range and innate agility enabling us to tailor our offering to customer demand. We remain vigilant to the external challenges, however, we have not experienced any material disruption at this time and believe our approach continues to position us well going forward."

As of 0920 GMT, Sosandar shares were up 4.76% at 33.0p.