A women's fashion brand sold by the likes of John Lewis, Next and M&S has revealed it expects to return to the black by the end of March next year.
Sosandar is eyeing a pre-tax profit of £1.9m for the 12 months to March 31, 2023, as well as a revenue of £42.5m and an EBITDA of £2.2m.
The Wilmslow-headquartered business posted a pre-tax loss of £554,000 for its most recent financial year on a revenue of £29.4m. Its EBITDA was £200,000.
READ MORE: United Utilities to sell renewable energy business for £100m
Those figures compare to a loss of £3m and a revenue of £12.1m in the year to the end of March 2021.
In a statement issued to the London Stock Exchange, the company said its most recent financial year had been a "milestone" as it "delivered an exceptionally strong financial performance".
In the first quarter of its new financial year, the company's revenue totalled £10.4m, up 81% compared to the same period 12 months ago.
In a joint statement, co-CEOs Ali Hall and Julie Lavington said: "We are incredibly proud to be reporting another period of sustained growth for Sosandar.
"It is thanks to our well-planned approach, together with our entrepreneurial, agile culture that we have delivered a significant increase in revenue, as well as moving into month-on-month profitability.
"This is an important milestone for us, and having achieved it we are now better positioned than ever for further success.
"Notwithstanding the current macro-economic environment, trading in the new financial year has started very well, with a record quarter for sales and three further consecutive months of profitability.
"With the arrival of spring and summer, we have seen our customers seek out a wide variety of product, in particular smart clothes for work, bright colours for holidays and investment pieces such as leather.
"Looking ahead, we are excited for the next stage of our growth. Our winning formula is evident in our results and over the next year we will focus on expanding our product range and continuing to drive growth through our own site and third parties.
"Return rates are in line with our expectations across the product range and our costs continue to be carefully managed.
"We continue to expand and diversify our supplier base to support our growth expectations whilst further mitigating risk.
"As we have done over the past two years, we will continue to use our agility and detailed planning to manage the business effectively, as we move forward on our journey to becoming one of the largest womenswear brands globally."
