Farfetch records first profit after 12 years

José Neves, founder and chief executive, Farfetch

Farfetch has achieved its first-ever positive EBITDA despite a tough year for fashion retailers.

The luxury fashion platform recorded revenues up 64% year on year to $1.7bn (£1.2bn) in the year to December 31, aided by a bumper fourth quarter where sales rose 41% year on year to $540m (£389m).

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