The fashion etailer said that revenues grew by 8.1% in the first quarter of the 2020 financial year, which reflected a “growing proportion of transactions coming through the marketplace”.

GFG said that adjusted EBITDA for the period was negative 8.3%, an improvement of 150bps year on year, “continuing our path to profitability”.

The retailer said the improved EBITDA performance was driven by a higher gross margin and offset by increased fulfilment costs.