Feeds

QXL grows Q3 losses

But sales are up, and it's got a bit of cash left

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

Online auction house QXL Ricardo.de has grown its Q3 losses to £41.1 million, up from £25.6 million for the same period a year earlier.

The London-based business blamed the situation on its acquisition strategy and the need to integrate the IT systems of its purchases.

Sales for the three months to 31 December hit £4.1 million, more than double the £1.6 million it managed the year before. Buying German auction business Ricardo.de helped boost the value of goods sold on QXL's sites. This figure jumped 24 per cent from Q2 to £24.9 million. At the end of Q3 the company had £37 million left to spend.

As well as auctioning goods from individuals and businesses, QXL is also a retailer and sells computer kit, amongst other things on its site. But that all ends this month. The company is going to stop selling stuff itself, and will just let its former suppliers auction products themselves. ®

Related Story

QXL shares going going gone

Providing a secure and efficient Helpdesk

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.