Feeds

Lastminute: two quarters to break even

Cash burn down

  • alert
  • submit to reddit

The essential guide to IT transformation

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

5 things you didn’t know about cloud backup

More from The Register

next story
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
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.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?