Feeds

Scoot.com posts losses

Denies it's up for sale

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Scoot.com has denied reports that its decision to appoint Merrill Lynch to conduct a review of all "strategic options" for the information finder and business directory business is a signal that the outfit is up for sale.

A spokeswoman for the company said that management was keen to concentrate on running and expanding the business.

Merrill Lynch has been brought in, she said, to look at the way the business is run and to see if it can be operated more efficiently.

Despite the optimistic spin, this does not rule out a possible sale or job losses once the review is complete.

Publishing unaudited preliminary results for the 15 months ended 31 December 2000, Scoot.com reported group revenue of £24.1 million and EBITDA losses of £46.4 million.

The outfit says it had £31.3 million of free cash in the bank at the end of last year.

Dick Eykel, Chairman, of Scoot.com, said that its UK business was "on track to profitability" but that it was now "critical to ensure that Scoot can fully exploit its exciting business opportunities".

However, Scoot (UK) revenue decreased from £15.4 million in 1999 to £11.5 million in the 15-month period ended 31 December 2000.

Scoot's subscriber base in the UK is expected to grow to 110,000 by the end of the year. Scoot's European user base is predicted to hit 85,000 by end of 2001. ®

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
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
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
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'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
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.