Predicts Break-Even in Nine Months

16 August 2001

Announcing quarterly results, eleventh-hour e-tailer forecast a move out of the red in the UK and France within nine months.

The company posted a loss of £8.9 million ($12.9m) during its fiscal Q3, down 16.8% year on year. Over the last nine months, Lastminute increased its subscriber base from 2m to 3.5m and generated sales of £77.3m, 3.7 times the total in the equivalent period last year.

“The key fourth quarter has started extremely well, with July 2001 total transaction value up 60% on June 2001,” revealed chief executive Brent Hoberman. “The fourth quarter will see us exceed £45m total transaction value in a quarter for the first time.”

News source: BBC Online Business News (UK)