Income for the 12 months was down 19.6% to £37.2m, which Sosandar mentioned mirrored “the continued transition away from value promotional exercise”.
Earlier than the buying and selling replace, market expectations for the 12 months have been income of £38.5m and revenue earlier than tax of £1m. The corporate mentioned revenue for the complete 12 months was “softer than we had hoped”, however highlighted a optimistic swing in contrast with 2023/24.
Buying and selling within the fourth quarter was “strong” towards the continued difficult macro-environment. In January, the corporate delivered full-price gross sales according to its expectations. Nonetheless, February was “softer than anticipated”.
Through the 12 months, Sosandar improved gross margin to 62.5%, from 57.6% within the earlier 12 months.
In 2024/25, the enterprise opened its first six shops, together with in Tub and Harrogate in February. It mentioned round 60% of purchases in retailer are made by clients new to the model, and it has seen an uplift in site visitors and conversion on its web site within the areas the place shops are situated.
The corporate mentioned in an announcement: “Having delivered on our strategic aims for the 12 months, we’re assured that we at the moment are at an inflection level.
“We count on a return to gross sales progress in 2025/26 and the board reiterates its confidence within the firm delivering market expectations for the brand new monetary 12 months. The foundations are additionally in place for sustainable, worthwhile and cash-generative progress over the medium to long run.”
