Lycos Europe ups revs, narrows losses
Lycos Europe is on course to make a profit next year, the portal and internet group announced today.
Revenue for 2004 was up 22 per cent to €103.8m, buoyed by increased internet access revenues and increased cash from shopping and other 'paid for' services.
At the same time, pre-tax losses narrowed from €62.3m to €50.3m in 2004.
Said Lycos chief exec Christoph Mohn: "These figures verify that Lycos Europe is on the right course to reach its corporate objective 'profitability for the full year 2006'.
"The disproportionately large increase in revenues from Paid Services & Shopping as well as the disproportionately growing revenues from the Internet Access business in 2004 form a workable basis for a positive outlook for future years."
The company - which operates portals in Denmark, Germany, France and the UK, among others - is planning further cost cutting to hit its numbers. ®