Sosandar has narrowed its full-year losses and hailed the return of “normal trading conditions” following the impact of the coronavirus pandemic.
The fast-growing online fashion retailer recorded an EBITDA loss of £200,000 in the year to March 31, compared with a £2.9m loss a year ago.
Revenues rocketed 142% to £29.5m during the 12-month period.
Sosandar built what it hailed as “strong momentum” during the second half of its financial year, racking up three consecutive months of record revenue between September and November last year.
It also registered a profit during all six months of its second half.
Gross margins were boosted to 56% – an increase of eight percentage points year on year – as Sosandar hailed “a return to normal trading conditions following the impact of the Covid pandemic”.
Total order numbers jumped 84% to £508,000 during the year, while its active customer base swelled two thirds to 223,000.
Sosandar said it had made a “very strong start” to its new financial year. Sales during its first quarter surged 81% to £10.4m, marking a record quarter for the business.
The etailer has now racked up nine consecutive months of profitability.
Sosandar’s co-chief executives Ali Hall and Julie Lavington said: “We are incredibly proud to be reporting another period of sustained growth for Sosandar. It is thanks to our well-planned approach, together with our entrepreneurial, agile culture that we have delivered a significant increase in revenue, as well as moving into month-on-month profitability.
“This is an important milestone for us and having achieved it we are now better positioned than ever for further success.”
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