Feeds

Egg to break even in Q4

And that's no yolk

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Egg is "bang on track" to break even at the end of the year, the British online bank reported today.

Despite reporting losses for the year of £155 million - up from £150 million in 1999 - the bank remains bullish it can turn things around during the next ten months.

And it points to a host of numbers which show that the bank is gaining strength in the competitive retail banking sector.

Operating income is up 375 per cent to £93.2 million; its customer base has increased 70 per cent to 1.35 million and brand awareness is up 20 points compared to last year.

It also intends to continue widening its margins while keeping a lid on costs as it eats into its deficit.

Indeed, the City appears reasonably content with Egg's performance with its share price holding steady at 132p by lunchtime.

Of course, Egg's plans to break even depend on its Web site functioning and fully operational. Last month the bank suffered extended hardware problems depriving customers of access to their accounts. ®

Related Stories

Egg.com's been down due to hardware problem

Providing a secure and efficient Helpdesk

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
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.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.