Feeds

QXL grows Q3 losses

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

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

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

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.