Feeds

Lastminute seeks £13m savings

Trading update

  • alert
  • submit to reddit

Intelligent flash storage arrays

Lastminute.com says it is on track to meet targets for Q4, albeit at the lower end of its expected range. Today it will tell analysts and investors how will save around £13m in the 2005 financial year to reduce costs by 10 per cent.

Finding an extra £13m per year will cost the firm £9m, including £5m relating to the integration of recently acquired Online Travel Corporation.

As reported in August, this will result in the closure of six offices in the UK, four overseas, and the loss of 350 jobs. Most of the costs will be recognised as exceptional items in Q4.

CEO Brent Hoberman said the group had continued to grow, despite what he called "challenging trading conditions in the industry during the summer quarter". ®

Related stories

Potential buyers sniff Ebookers
Lastminute.com axes 350 jobs
Lastminute buys German doppelganger

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
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 cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
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?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.