Scoot's sales are down and losses up
365 doing nicely
Scoot.com reported a 38 per cent downturn in revenues to £8.2 million for the nine months ending June 30. For the same period last year it enjoyed sales of £13.3 million. Group operating losses increased by 56 per cent from £10.6 million to £16.6 million for the nine months. The subscriber base grew by 16 per cent over Q2.
The sales slide is blamed on a move from a fixed to a variable pricing model. The company is also owning up to 'teething' problems with the second version of its transaction system.
365 Corporation reported an operating loss of £3.4 million for Q1 compared with £2.4 million in the previous three months. A national insurance bill for employee share options and goodwill paid on recent purchases are blamed.
Gross profits for the quarter were £4 million, up 37 per cent on the £2.9 million made in Q4 1999.
Total sales hit £10m from £4.6 million for Q1 1999 thanks to Euro 2000 doing the business for the company. Total users increased to 2.1 million in June, up 19 per cent from 1.75 million in March.
Games publisher Eidos says things were pretty quiet in Q1 hence sales of £16.8 million and losses before tax and goodwill of £18.4 million.
Online bank e-primefinancial reported losses of £374,804 for the period from 30 November 1999 to 30 June 2000. Admin expenses were £792,596, but revenue from investments of £417,792 sorted a good bit of that out. This business has £21 million in the bank so no worries just yet. ®
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