Feeds

Egg loses cash

Anyone thought of looking in the sock drawer for it? Could be in there

  • alert
  • submit to reddit

Build a business case: developing custom apps

British Internet-cum-telephone bank, Egg, reported an increase loss, before tax, for the nine months to September 30 of £115.1 million - up 7 per cent compared to last year (£108 million).

The bank's loss before tax for the three months to 30 September 2000 was £34.4 million - down a smidgen from the £38.2 million reported last year.

Despite losing even more money, Egg remains bullish and claims it's on course to deliver profitability. It claims more than 120,000 new customers have signed up during Q3 bringing the total number of customers to 1.2 million. And this month it launched a £3 million brand advertising campaign to attract even more punters.

Mike Harris, CE of Egg said: "Our results this quarter reinforce our belief that the UK businesses will break-through into profit during the fourth quarter of 2001."



Digimedia outfit, 365 Corporation plc, is to receive a sponsorship payment and a fixed-fee from Sportingbet.com (Alderney) Ltd for every user clicking through from its association football site, Football365, and placing a bet on Sportingbet.com. In return, Sportingbet.com gets access to followers of association football around the world in the run up to and including the 2002 FIFA World Cup in Japan and South Korea, the companies said today.




AIM listed e-quisitor plc it has agreed a funding facility with Barclays Acquisition Finance of £25million on a six-year term. A £2million working capital facility has also been agreed. e-quisitor intends to use a combination of cash and debt to fund acquisitions and build a group of information-oriented businesses. ®



Bored? Check out Cash Reg. Then you'll know what real boredom is.

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.