StockMarketWire.com - Online women's fashion retailer Sosandar said its annual losses more than doubled after rising revenue was more than offset by business expenses.

Pre-tax losses for the year through March amounted to £7.8m, compared to losses of £3.5m on-year, even as revenue jumped to £9.0m, up from £4.4m.

Sosander said increased costs included investments in staff, supply chain and marketing.

Turning to the current year, it said it was 'delighted' with trading so far.

Revenue in the first quarter had risen 54%, while operating costs had fallen 71% to help drive a 69% improvement in the loss position.

Sosander said the strong first-quarter sales performance had continued in July, with revenue up 57%.

'Our increasing confidence underpins our decision to begin increasing marketing spend with careful, controlled investment into customer acquisition from September to November, subject to any further impact of Covid-19,' co-chief executives Ali Hall and Julie Lavington said.

'We remain cautiously optimistic about the coming months and more excited than ever about the longer-term prospects for Sosandar.'


At 9:05am: [LON:SOS] Sosandar Plc share price was +1.63p at 19.88p



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