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Blue Carrots owner makes £1 million loss

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Cube8.com, the investment company best known for Net community Blue Carrots, has released its six-month results and hired a CEO. The company made a loss
of just over £1 million on a turnover of £324,000. It still has £7 million in the bank, which it says will run the business for the next three years. On top of the CTO post the company announced last week, it has also taken on Brian Hindson, formerly of the British Red Cross, as CEO. Cube8 floated on the AIM in February, raising £9.5 million.



Another one bites the dust. CarOrder.com, which bought cars direct from dealers and sold them on over the Net, has shut down and laid off 100 employees.



Visit the site and you will now be greeted with: "CarOrder.com has decided to suspend our retail Web site activities as of today, August 18, 2000 in order to execute on our mission to leverage cutting-edge technology in the operation of dealerships." The company had suffered from heavy competition and tight margins.



NetCom has said that increased call volumes had boosted its revenues in the first half this year, increasing pre tax profits by 50 per cent. The company


reported first half pre tax profits of 202 million Norwegian kroner, on revenues of K1.34 billion, up from K1.14 billion last year.




Metal Bulletin has said that its online product has attracted 39 per cent of its new subscribers, bringing its total to around 800. Sales of £15.1 million in the last six months pushed pre tax profits up six per cent to £2.7 million. The company provides news about the state of the metal industry.




EasyJet boss Stelios Haji-Iannou has decided to only sell shares in his business to institutional investors when he floats 25 per cent of the company in the next couple of months. This is because he fears repeating the chaos of the lastminute.com IPO where thousands of small investors tried to buy a stake in the company. It also indicated what Stelios will do when he floats part of his EasyEverything chain of Net cafes next year. ®



For more financial fun visit the Cash Register.

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