Farfetch posts 39% revenue uptick amid “strategic milestones”

// Farfetch revenue up 39% to £135m during Q1 ending March 31
// Adjusted revenue up 41% to £113m
// Adjusted EBITDA up 27% to £23m

Farfetch has recorded a 39 per cent increase in revenue to $174 million (£135 million) during the first quarter period ending March 31.

Adjusted revenue rose by 41 per cent to $146 million (£113 million) in the same period, compared with 2018, while adjusted EBITDA increased by 27 per cent to $30 million (£23 million).

Meanwhile, gross merchandise value (GMV) increased by 44 per cent year-on-year to $415 million (£323 million).

“Farfetch enjoyed excellent growth in first quarter 2019, with platform GMV rising 44 per cent to $415 million (£323 million), or around 50 per cent growth on a constant-currency basis,” Farfetch founder and chief executive José Neves said.

“In addition to strong operational execution, we reached some important strategic milestones that position us for continued strong growth in 2020 and beyond.

“Overall, we are very well positioned to continue capturing share of the significant opportunity in the online personal luxury goods market.”

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