Sosandar: usual flowery narrative but where is the detail
A previous winner of our bonkers valuation of the week, Sosandar’s share price has fallen precipitously since our earlier valuation warning and the latest update is sadly short on detail
The AGM statement from Sosandar's (LON: SOS) non-executive chairman Bill Murray talked of “an exciting time of growth and development” for the company. Investors clearly agree. Despite a 228% increase in group sales in the year to March 2019 and a rapid drop in the company's share price, Sosandar's market capitalisation is still more than six times its annual revenue - a ludicrous valuation for a cash guzzling company operating in an incredibly competitive market. Management is hoping to sidestep the challenges of the fashion retail market by targeting "a generation of women who are looking for quality, affordable clothing with a premium,…