Sosandar plc has reported half-year results for the six months to 30 September 2026. Group revenue rose 11 per cent to £20.8m (H1 FY26: £18.7m). Gross margin increased by 290 basis points to 65.1 per cent. Adjusted loss before tax narrowed to £0.7m from a £1.1m loss a year earlier.
Cash at 30 September was £7.1m (31 March 2026: £8.4m), with no debt. The company returned £0.9m to shareholders through share buybacks in the period. Inventory rose to £11.5m ahead of the autumn/winter season.
Channels and weather effect
Own-channel revenue (website and stores) was flat year on year for the half. Excluding September, own-channel revenue was up 5 per cent. Third-party revenue rose 24 per cent (32 per cent excluding September). Sosandar said some of the partner growth reflected demand through Marks & Spencer after its cyber incident, with other partners also ahead year on year.
The company said the first five months were strong, with revenue up 17 per cent, before prolonged warm weather in September delayed autumn product sales across all channels. Store revenue rose 10 per cent year on year excluding Bath, which was exited during the half.
Outlook
Trading strengthened through October as colder weather arrived. October gross margin was 68.0 per cent (last year: 67.2 per cent). Cash at that point was £6.4m, reflecting inventory payment timing. Sosandar said it is on track to deliver full-year market expectations and typically achieves profitability in the second half.
Co-CEOs Ali Hall and Julie Lavington said revenue has grown, margins have strengthened and the business is moving closer to the profitability it is capable of.
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