Feeds

Lastminute: two quarters to break even

Cash burn down

  • alert
  • submit to reddit

Combat fraud and increase customer satisfaction

Lastminute.com says its operations in the UK and France will break even in approximately two quarters.

The company's full year financial results, announced today, shows various belt-tightening measures are paying off in a reduction of cash outflow, while sales have shown strong improvement from the last quarter.

Quarter-on-quarter growth showed its total group turnover climb from £4.4 million to £7 million, while cash burn dropped from £8.56 million to £6.85 million. Total transaction value jumped from £29.29 million to £46.88 million

Looking year-on-year, total transaction value more than tripled to £124 million, from £34 million in 2000. However, its full year pre-tax loss crept up to £39.1 million, which is more than twice its total group turnover of £18.4 million.

CE Brent Hoberman says a deal signed with AOL Europe this week will help it boost its holiday package orders. He plans to follow this through with further deals. He also says its travel business has not been adversely affected by the September 11 attacks, which he attributes to its good deals.

Last month it became the first company to have a tab included on Microsoft's Windows Messenger, which will allow users to receive personalised deals and updates via instant messages. ®

Related Stories

Lastminute.com gets away with Hun fun
Lastminute.com does .NET

Related Link

Full Financial Results

Combat fraud and increase customer satisfaction

Whitepapers

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.
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.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.