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Revenue up at Global Fashion Group

International etailer Global Fashion Group (GFG) has reported a 15% increase in revenue in the second quarter of 2019, but is yet to reach the break-even point with its EBITDA.

For the 13 weeks, total revenue was €342.4m (£282.2m). Adjusted EBITDA was €3.2m (£2.6m) – up 0.9% from €2.5m (£2.1m) in the second quarter of 2018.

The company put this down to €25m (£20.6m) worth of investment it made during the first half, particularly on operational and technological developments. Gross profit was up 42.4% year on year to €141.3m (£116.4m).

Co-CEOs Christoph Barchewitz and Patrick Schmidt said: “We have had a strong second quarter and made good progress against our strategic priorities. Through our focus on customer experiences, we attracted more customers, who purchased more often, and spent more on a per customer basis”.

GFG, which owns The Iconic, Zalora and Dafiti, said the number of orders through its sites grew by 25.4% to 8.9 million over the period, and customers spent 8.8% more often at 2.6 times per year.

The group said it remains confident in its outlook for the year.

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