British clothing retailer Sosandar Plc. closed the first half of the 2022/23 financial year with a significant increase in sales and made further progress in earnings. This emerges from an interim report in which the company published selected results on Tuesday.
Accordingly, sales in the months of April to September reached a level of 20.9 million pounds sterling (24.0 million euros) and thus exceeded the corresponding level of the previous year by 72 percent. Although the gross margin fell slightly compared to the same period, the fast fashion provider was able to clearly improve its results: Profit before tax was 0.1 million British pounds, after a corresponding loss of 1.08 million in the first half of the previous year British pounds had to be booked.
Despite the difficult framework conditions, the clothing supplier is confident about the second half of the year. In the first weeks of October, the proceeds were “as expected" continued to grow, said co-CEOs Ali Hall and Julie Lavington in a statement. The two bosses therefore expect “further progress and profitable growth in line with market expectations for the year as a whole”. The company intends to present its full results for the first half of the year in early December.
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