Sosandar lifted by growing sales

AIM-listed online clothing retailer Sosandar (LON:SOS) has seen its share price climb by 25.31% to 20.05p (as of 13:25 GMT) as it reported a 53% increase in revenues for the six months ended 30th September. This growth accelerated over the course of the period with September sales more than double the same period of last year.

Joint CEOs Ali Hall and Julie Lavington commented: “Our ability as an online retailer to employ an agile strategy resulted in us focusing our customer acquisition activity on the important Autumn months towards the end of the period and carrying into current trading. As expected, the accelerated investment into marketing and product is producing strong results with record months in September and October.

“We are seeing strong engagement from our ever-expanding base of loyal existing customers and this will continue to increase as our product range grows further. We are delighted with the success of our new advertising activity and the Board is confident that accelerating our future growth by increased investment in marketing (especially via TV) in this financial year is the right decision for our business.

“With a widened product range offering, strong balance sheet, and a broadened, aggressive, and increasingly effective marketing strategy, we are confident about the full year“.