Interim Results for the 9 months ended 31 December 2017
29 March 2018
Sosandar PLC (AIM: SOS.L), the online women's fashion brand, announces its unaudited interim results for the nine months ended 31 December 2017. On 2 November 2017 Sosandar was admitted to trading on the AIM market of the London Stock Exchange following a reverse acquisition of Thread 35 Ltd by Orogen plc.
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Download The full results are available to |
The table below highlights financial performance for the 9 months to 31 December 2017 and prior year comparative.
| 9 Months ended 31 December 2017 | 9 Months ended 31 December 2016* | |
| Revenue | £861,443 | £140,818 |
| Gross Profit | £408,883 | £71,991 |
| Gross Margin | 47.5% | 51.1% |
| Operating Loss | £(2,129,632) | £(1,000,824) |
| EBITDA | £(2,023,632) | £(994,826) |
*The Sosandar website went live in September 2016.
Operational Highlights
| 9 Months ended 31 December 2017 | 9 Months ended 31 December 2016* | |
| Sessions | 983,933 | 320,882 |
| Conversion rate | 1.93% | 0.89% |
| Number of orders | 19,002 | 2,858 |
| Average order value | £96.25 | £95.69 |
| Facebook Followers | 31,354 | 8,587 |
| Instagram Followers | 6,560 | 240 |
| Customer Database | 36,328 | 3,713 |
*The Sosandar website went live in September 2016.
Ali Hall and Julie Lavington, Joint CEOs, commented:
"We are delighted with the progress being made within the business, which continues to exceed management expectations. Awareness of Sosandar is growing ever stronger and the coverage and recognition that our products receive is promising for a brand so early in its lifecycle.
"The fundraising in November has enabled us to increase our product range and we are already seeing good traction in our higher price point categories, including leather, outerwear and footwear. Our target market is affluent and has been long underserved and we continue to look forward to the future with great confidence."
Enquiries
| Sosandar plc | www.sosandar.com |
| Julie Lavington / Ali Hall, Joint CEOs | c/o Alma PR |
| Cairn Financial Advisers LLP (Nominated Adviser) | +44 (0) 20 7213 0880 |
| Sandy Jamieson/Liam Murray / Richard Nash | |
| Turner Pope Investments (TPI) Limited (Broker) | +44 (0) 20 3621 4120 |
| Ben Turner / James Pope | |
| Alma PR Limited (Financial PR) | +44 (0) 208 004 4217 |
| Rebecca Sanders-Hewett / Josh Royston / Susie Hudson | [email protected] |
About Sosandar
Sosandar is an online womenswear brand specifically targeted at a generation of women who have graduated from younger online and high street brands, and are looking for affordable clothing with a premium, trend-led aesthetic. Based on previous experience within the UK fashion industry and their understanding of the target demographic, this is a section of the market that the Company believes is currently being overlooked.
Sosandar was launched on 19 September 2016 following ten months of preparation that included building the management team, designing the initial Sosandar range, sourcing suitable suppliers, appointing a logistics provider and building the website. The Sosandar business model is built around using trend-led, in house designs that are sourced from a variety of global suppliers to cater for a growing market of fashion conscious women, while utilising an outsourced logistics provider that can support its planned growth over the coming years.
Sosandar's founders are Alison Hall and Julie Lavington, who have previously worked together at high street fashion and celebrity style magazine Look, as editor and publishing director respectively. They have a combined experience of over 35 years in the media and fashion industries, including in the design of fashion ranges for some of the UK's high street retailers, including Debenhams, Office, Oasis and JD Williams.
More information is available at www.sosandar.com