23rd Sep 2019 12:42
(Alliance News) - Women's fashion retailer Sosandar PLC on Monday reported year-on-year revenue growth in the first half of September.
Ahead of the company's annual general meeting on Monday, Non-Executive Chair Bill Murray reported that recent performance has been "in line with management expectations".
Murray also said that increased marketing and product investment is yielding positive results.
"Following the completion of our oversubscribed placing in July, we have accelerated our growth by carefully deploying funds to strengthen our design capability, widen our product range and trial additional marketing channels. As expected, we've seen these activities result in increased customer acquisition alongside continued growth from our ever-expanding base of loyal existing customers."
In September, Sosandar began television advertising in the North West of England with ITV PLC, to "encouraging" early results, Sosandar said.
It has also advertised on digital panels alongside escalators at London underground stations including Euston and King's Cross St Pancras.
Murray added: "We expect the contribution to brand recognition and awareness that this creates, together with our TV advertising, to be significant and, over time, we are confident it will further support our work in new customer acquisition and retention."
Shares in Sosandar were 5.8% higher at 17.06 pence apiece in London on Monday afternoon.
By Eric Cunha; [email protected]
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