Feeds

Scoot.com posts losses

Denies it's up for sale

  • alert
  • submit to reddit

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.