Sosandar returns to revenue growth in first half

Sosandar generated a 15% increase in net revenue to £18.7m in the period to September 30, its loss before tax inched up from £0.7m to £1.1m, which the retailer said was in line with expectations.

It said that the loss reflected its typical seasonal trading profile, with profitability weighted to the latter part of the year and the peak trading period. Sales in the first half were also hit by the cyber attack on partner Marks & Spencer while a maturing store portfolio affected profits.

Sosandar reported that it has resumed selling through the M&S website and there are “collaborative efforts underway to scale stock intake for Q3”.

Last month, the fashion retailer also launched a licensed homeware range with Next, “which has delivered a strong initial performance in line with our expectations”.

Sosandar joint chief executives Ali Hall and Julie Lavington said: “We remain incredibly excited for what lies ahead for Sosandar as we leverage the multiple opportunities available to us to expand the brand’s presence across the UK and international markets, progressing towards our goal of becoming one of the leading global womenswear brands.

“The board reiterates its confidence in delivering market expectations for the current financial year with the foundations now in place for sustainable, profitable and cash-generative growth over the medium to long term.”