Sosandar monthly revenues hit record
AIM-quoted online women's fashion brand Sosandar expects full-year revenues to be "no less than" £1.34m after like-for-like sales in the six months ended 31 March showed a 268% increase against the prior year.
Sosandar saw record monthly revenues in March, with substantial momentum continuing into the new financial year, reflecting the impact of the company's marketing campaigns and increased brand awareness, showing the benefits of its investment into a variety of new marketing channels, the most successful of which being direct mail.
Since Sosandar's admission to AIM, it has expanded its product range and increased the quantity of stock ordered in commercially proven product lines while making significant margin improvements through both the economies of scale from increased order quantities and a higher proportion of sales from products sold at full price.
Sosandar expects its gross margin for the current year to be 49.3%, a marked improvement on the 37.8% for 2017.
Of the 20,325 customers acquired in the last six months, 11,407 repeat ordered more frequently with a higher basket size, now at an 8% higher average of £94.18, validating the company's focus on aggressively targeting customer acquisition and ongoing marketing.
Joint chief executive Ali Hall and Julie Lavington said: "It is particularly pleasing that we recorded our highest monthly sales figure in March 2018 (which was subsequently beaten by a further 32% growth in April 2018), demonstrating that our business is less seasonal than peers, and the speed at which we are growing.
"This momentum has continued into the new financial year, and we look forward to updating the market further at full-year results."
As of 1010 BST, Sosandar shares had picked up 4.55% to 16.05p.