Online women’s fashion brand Sosandar PLC (LON:SOS) saw its shares jump in early trading Wednesday after it reported a like-for-like (LFL) sales increase of over 200% in the last 6 months of its financial year.
The AIM-listed group said it expected full-year revenues for the previous financial year to be no less than £1.34mln as LFL sales for the 6 months ending 31 March 2018 rose 268% compared to the prior year.
READ: Sosandar puts the style back into affluent womenswear
Sosandar also said its monthly revenues for March 2018 had been the highest ever, adding that new customer numbers had risen 287% compared to last year.
The company expects its gross margin for the full-year to be 49.3%, up from 37.8% previously.
Ali Hall and Julie Lavington, join chief executives of Sosandar, said: “As a company early in its development, we are focused on increasing brand awareness and new customer acquisition and our KPIs show strong growth in these areas. 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.
They added: “We are constantly refining the efficiency of our marketing spend, and beginning to benefit from improved margins as we increase our minimum order size. This momentum has continued into the new financial year, and we look forward to updating the market further at full year results."
Sosandar shares were up 4.2% at 16p.