March 18, 2020 / 8:37 AM / 22 days ago

BRIEF-Sosandar Says Company's Performance In March Will Be Well Below Forecast

March 18 (Reuters) - Sosandar PLC:

* SOSANDAR PLC - TRADING AND COVID-19 UPDATE

* SOSANDAR PLC - COVID-19 OUTBREAK IS CREATING A SIGNIFICANTLY MORE CHALLENGING AND VOLATILE TRADING ENVIRONMENT

* SOSANDAR - SALES OVER PAST WEEK HAVE BEEN SUBSTANTIALLY WEAKER THAN EXPECTED WITH MARGINS ALSO BEING IMPACTED BY INCREASED CUSTOMER INCENTIVES USED

* SOSANDAR PLC - COMPANY’S PERFORMANCE IN MARCH WILL BE WELL BELOW FORECAST.

* SOSANDAR - FOR YEAR ENDED 31 MARCH 2020, CO EXPECTS ITS REVENUE TO BE BETWEEN £9.0M AND £9.3M AND NET LOSS FOR YEAR TO BE BETWEEN £6.5M AND £6.8M.

* SOSANDAR PLC - CURRENTLY IMPOSSIBLE TO PREDICT FULL IMPACT ON RETAIL SECTOR, AND COMPANY’S BUSINESS, FROM COVID-19.

* SOSANDAR PLC - WILL THEREFORE SUBSTANTIALLY REDUCE ITS PLANNED MARKETING SPEND IN ORDER TO FOCUS ON REPEAT ORDERS FROM GROUP’S EXISTING CUSTOMER BASE

* SOSANDAR PLC - NOT CURRENTLY EXPERIENCING ANY SIGNIFICANT DISRUPTION TO ITS MANUFACTURING.

* SOSANDAR PLC - IS ABLE TO RESOURCE RAW MATERIALS AND PRODUCTION FROM OTHER GEOGRAPHIES WHEN NECESSARY TO ENSURE A MINIMAL DISRUPTION TO SUPPLY CHAIN. Source text for Eikon: Further company coverage:

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