Ethical etailer Adili, which now trades as Ascension said revenue grew 20% in the six months to October 31 to £299,000.

Pre-tax loss was £886,000, down from £901,000 for the same period last year.

It has been a difficult year for the etailer which experienced a delay in its £940,000 fundraising which meant through July and August stock was marked down significantly to try and drive cash into the business.

Sales for November and December grew 36% year-on-year with a greater focus on margin growth rather than chasing headline sales growth.

Ascension also hopes that focus on own-label product and fewer brands will help push up margins.

It opened its first bricks and mortar offer last year with stores in London and Dorchester. It hopes these will help drive future growth for the business.

The business announced in December it may need to explore options for further fundraising in the near future. 

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