StockMarketWire.com - Online women's fashion retailer Sosander narrowed annual losses after it boosted sales.

Pre-tax losses for the year through March amounted to £3.1 million, compared to year-on-year losses of £7.8 million. Sales rose 35% to £12.2 million.

In the first quarter of the current financial year, Sosander said sales had risen to £5.7 million, up 45% quarter-on-quarter amid 'very strong sales of spring summer product from early in the season'.

Co-chief executives Ali Hall and Julie Lavington said the company had continued to expand and further diversify its product range.

'Whilst there is wider uncertainty around the ongoing effects of the pandemic, we are incredibly optimistic about what the future holds for Sosandar,' the said.

'Following the fundraise in May, we now have the financial flexibility to allow us to accelerate growth with third parties.'

'With a clear growth plan and numerous opportunities ahead of us, we are now well placed to accelerate towards profitability.'


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