Sosandar PLC
Sosandar PLC (LSE: SOS) is an FTSE AIM All-Share index-listed company engaged in manufacturing and distributing clothes through online platforms.
FY24 Trading Statement (Released on 16 April 2024)
- Financial Update: Revenue increased by 9% year-on-year to GBP 46.3 mn in FY24 versus GBP 42.5 mnin FY23. The gross margin improved to 57.6%, up from 56.1% in FY23, due to a planned reduction in certain price promotional activities ahead of a selective store rollout in the UK.
- Cash Generation: There was a positive swing in PBT from a GBP 1.3mn loss in H1 FY24 to an expected GBP 1.1mn profit in H2 FY24, resulting in a marginal overall loss of GBP 0.2m for FY24, aligning with market expectations. Strong cash generation in H2 FY24 improved the net cash position to GBP 8.3mn as of 31 March 2024, up from GBP 7.7mn at the end of December 2023.
- Outlook: The company's cash position as of 31 March 2024 was GBP 8.3mn, surpassing market expectations due to careful working capital management and focused stock purchasing. This strong cash position supports the next growth phase, including the planned rollout of select physical retail stores in FY25. The multi-channel model rollout aims to achieve profitable growth and accelerate the medium-term target of GBP 100mn+ revenues with a 10% margin.
Share Price Chart
Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Sosandar PLC (LSE: SOS) was trading at the current market price of GBX 11.00 (as of 08 July 2024, 08:50 AM GMT+1)
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 08 July 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Note 4: Dividend Yield may vary as per the stock price movement.
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