British clothing retailer Sosandar Plc has reported its first annual profit in its history. Citing preliminary figures, the company announced on Wednesday that it was able to generate earnings before taxes of at least 1.6 million pounds sterling (1.8 million euros) in the 2022/23 financial year, which ended at the end of March. In the previous year, a corresponding loss of 0.6 million British pounds had been booked.
However, the result in the most recent financial year was not quite able to meet market expectations. The reason given by the women’s fashion specialist was that investments in growth measures that were originally planned for the current year had been brought forward.
Last but not least, Sosandar owes its leap into the profit zone to a significant increase in sales. According to the results available, sales grew by 44 percent compared to 2021/22 to 42.5 million pounds sterling (48.3 million euros). At 56.1 percent, the gross margin was slightly above the previous year’s level of 56.0 percent.
