Sosandar (AIM:SOS) PLC swung into profit at the half-way stage as it reported a bumper rise in revenues and a strong start to the second half with record sales in October and November.
The Cheshire-based online fashion retailer saw revenues jump 72% in the six months to 30 September 2022 to £21.0mln with the growth split equitably between own site and third party partners, while pre-tax profits came in at £0.1mln compared to a loss of £1.1mln last year.
This was the second six-month period of positive pre-tax profits following the second half of financial year 2022 and the company is set to post a full-year profit in line with market expectations of £2.0mln with revenues forecast of £42.8mln.
Black Friday saw a record number of visits to Sosandar.com and the strongest sales week on record for third party partners, with margins increasing compared to the first half of the year, the company said.
In the first half, website visits rose 25% to over 7.7mln, with website orders up 43% to 347,137 with the average order value 4% higher at £90.
Products across all categories are selling well, with fast-tracked categories including partywear, knitwear and outerwear particularly strong, the company said.
Ali Hall and Julie Lavington, co-CEOs commented: “We continue to trade in line with market expectations for the full year and remain confident in the longer-term outlook for the business."
“Second-half trading to date has built on the momentum we saw in the first half.”