// Sosandar revenues up 72% in the first half to £20.9m thanks to strong retail partnerships
// The womenswear retailer has launched a new partnership with N Brown Group’s JD Williams
Sosandar revenues have jumped 72% in the first half to £20.9 million despite “challenging” trading conditions.
It also achieved a pre-tax profit of £0.1 million in the six months to 30 September compared to a loss of £1.08 million in the same period a year ago.
The womenswear retailer said its average order value rose by 4% in the half year while the number of active customers increased by 33% to 254,601.
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The trading update comes as Sosandar launches its new partnership with N Brown Group’s JD Williams on a wholesale agreement basis.
The retailer said its success is down to its partnerships with other retailers such as M&S, Next, John Lewis and The Very Group.
“Our well-planned and agile approach, together with our distinctive product range and effective communication strategy, has enabled us to deliver a significant increase in revenue, as well as a full period of profitability,” Sosandar co-chief executives, Ali Hall and Julie Lavington said.
“We have a clear strategy in place and a proven ability to execute our plan.
“This gives the board the confidence that the group will continue to make progress and deliver profitable growth in line with full year market expectations.”
Sosandar now expects to deliver revenues of £42.8 million, EBITDA of £2.2 million and a pre-tax profit of £2 million in the year to 31 March 2023.
