Half Year Results

30 November 2021

Half year revenue growth +184%, record autumn trading, with October and November the Company’s first EBITDA positive months

Trading ahead of full year market expectations*

Sosandar PLC (AIM: SOS), the online women's fashion brand, is pleased to announce its financial results for the six months ended 30 September 2021 and an update on current trading.




The full results are available to
download in PDF format


Half Year Financial Highlights

  • Revenue growth of 184% to £12.2m (H1 FY2021: £4.3m), higher than the entirety of FY2021
  • Gross profit of £6.9m, a 207% increase on the same period in the prior year (H1 FY2021: £2.24m)
  • EBITDA improved to a £0.99m loss against a comparative period in the prior year where spending was significantly reduced in response to the pandemic (H1 FY2021: £1.02m loss, H2 FY2021: £1.9m loss)
  • Increase in gross margin to 56.5% (H1 FY2021: 52.3%)
  • Net cash of £7.4m as at 30 September 2021 (30 Sept 2020: £4.5m, 30 June 2021: £9.1m) reflecting the equity fundraise in May 2021, and subsequent investment in inventory in order to meet growing demand from all customers including third parties

Half Year Operational and Strategic Highlights

  • Ever increasing levels of customer engagement with all KPIs increasing YoY:
    • Active customers increased by 41% to 191k
    • Conversion Rate of 3.91%, up from 2.58% in H1 FY2021
    • Average order frequency increased by 19% to 2.21 times per annum
    • Average order values maintained at £86, alongside 153% increase in orders
  • Maintained a strong return on investment from marketing, with Cost per Acquisition (CPA) continuing at half the pre-pandemic level
  • Continued expansion of the product range across all categories offering a broader choice to the customer with rapid sell through across all channels
  • Strong trading with third parties M&S, Next and John Lewis across all product categories


Post-period Trading Highlights

  • Revenue for 1 October to 29 November up 120% on the same period in 2020, reflecting consecutive record months
  • EBITDA positive in both October and November, demonstrating the Group’s trajectory towards annual profitability
  • Record number of website visits, orders and a conversion rate of 4.0% in October
  • Increase in stock purchased for autumn executed to plan
  • Strong revenue from new and repeat customers as well as through third parties
  • Product across all categories selling through rapidly with partywear, knitwear and outerwear particularly strong
  • No material impact from supply chain disruption experienced to date, with a constant flow of stock to meet demand
  • Cash at 30 October 2021 of £7.6m, demonstrating strong cash generation
  • Trading ahead of market expectations for the full year


H1 FY2022 KPIs (Own Site)

 Six months ended 30 Sept 2021
 Six months ended 30 Sept 2020
Sessions 6,212,484 3,713,318  67%
Conversion rate 3.91% 2.58%  51%
Number of orders 242,991 95,903  153%
AOV £85.86 £87.59  -2%
Active customers 191,424 135,426  41%
Average Order Frequency 2.21 1.85  19%


Ali Hall and Julie Lavington, Co-CEOs commented:

“We are delighted to be reporting such strong revenue and active customer growth as well as reaching a significant milestone in delivering two EBITDA positive months in October and November. This pivotal achievement reflects customer engagement KPIs being substantially ahead of the prior year, including the increase in our number of active customers, repeat customers and conversion rates, highlighting the effectiveness of our marketing strategy, diverse product range and operational excellence.

Anticipating high demand as restrictions were eased, we decided to bring in stock early for autumn, including partywear, coats, boots, and knitwear. This decision has allowed us to meet the exceptionally strong demand for our product with sequins, Christmas jumpers and fur coats emerging as best sellers.

Looking ahead, whilst we are cognisant of ongoing supply chain challenges, we continue to mitigate the impact and our long-term growth strategy remains unchanged. The Company is trading ahead of market expectations for the full year and we look forward to a successful second half and beyond.”


* Sosandar believes that market expectations for the year ending 31 March 2022 prior to publication of this announcement are currently revenue of £24.4 million and an EBITDA loss of £1.2 million.



Sosandar is hosting a webinar for analysts at 1100 hrs GMT today. If you would like to register, please contact [email protected]

The Company is also hosting a webinar for retail investors at 1300 hrs GMT on Wednesday 1 December 2021. If you would like to attend, please register here: https://bit.ly/SOS_HY_R



Sosandar plc www.sosandar.com
Julie Lavington / Ali Hall, Joint CEOs c/o Alma PR
Steve Dilks, CFO
Singer Capital Markets
Peter Steel / Kailey Aliyar / Tom Salvesen
+44 (0) 20 7496 3000
Alma PR Limited (Financial PR) +44 (0) 20 3405 0205
Susie Hudson / Sam Modlin / Molly Gretton  [email protected]


This announcement contains inside information for the purposes of the retained UK version of the EU Market Abuse Regulation (EU) 596/2014 ("UK MAR").


About Sosandar plc

Sosandar provide a one-stop online shop for style-conscious women who have graduated from price-led alternatives. The Company offers this underserved audience fashion-forward, affordable, quality clothing to make them feel sexy, feminine, and chic. The business sells predominantly own label exclusive product designed in-house.

Sosandar’s offers product across all womenswear categories, ensuring all wardrobe needs can be fulfilled. The Company has brand partnerships in place with Next, John Lewis and Marks & Spencer.

Sosandar’s growth strategy is to build brand awareness and expand its customer base through developing exceptional products, providing a seamless customer experience and using impactful, lifestyle marketing activity. This is underpinned by combining innovation with data analysis, which drives successful product development and new customer targeting.

Sosandar was founded in 2016 and listed on AIM in 2017. More information is available at www.sosandar-ir.com


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