Sosandar shares rise as expects to swing to full-year profit
Sosandar PLC on Tuesday said it has the foundations in place to deliver ‘sustainable, profitable and cash-generative growth’, as it guided a swing to full-year profit.
The Cheshire, England-based online women’s fashion brand reported £42.3 million in revenue for the financial year that ended March 31, up 14% from £37.1 million a year prior, but slightly below market expectations of £43.1 million.
Shares in the company closed 9.4% higher at 7.25 pence on Tuesday in London.
Sosandar said own site performed ‘particularly well’, as revenue rose 24%. The company said its performance was driven by a combination of ‘increased traffic, improved conversion and increased order volumes from both new and existing customers’.
The company expects to swing to a pretax profit of £400,000 for the financial year, from a £67,000 loss a year prior, falling in line with market expectations of £400,000.
‘The board is confident in the company’s strategy and believes the foundations are in place to deliver sustainable, profitable and cash-generative growth,’ said Sosandar.
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