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Sosandar PLC boasts record revenue in October, November

 PLC () announced the cautious re-introduction of customer acquisition strategies has led to a record month of revenue in October. 

Monthly sales for September to November increased by 115% compared to the average for the prior five months, setting a new daily record for revenue in November. 

Profits were helped as the marketing initiatives restarted in September came at only half of the cost of last year. 

The online fashion retailer is reaping the benefits of the launch on John Lewis and NEXT PLC () and plans to continue developing its offering on both platforms in 2021. 

In the six months to September 30, revenue soared 52% to £4mln while the underlying loss narrowed to £1mln from £2mln a year ago. Net cash at period-end was £4mln. 

“Sosandar’s strong results reflect, in our view, its ability to successfully trade the product ranges well, despite the headwinds of 2020,” analysts at house broker Shore Capital said.  

“The business is well managed and has demonstrated its ability to react to the ever-changing marketplace.” 

Shares advanced 5% to 20.8p on Tuesday at the opening bell.

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