By Ron Coates, 30 November 2000 18:00
NEWS Yesterday the company revealed losses for the second financial quarter of £67.7m, mostly related to write-offs on the purchase of Swedish rival Bidet in June. Turnover was up threefold at £5.97m. In August QXL bought German rival Ricardo.de in an all-share deal valued at £170m. QXL Ricardo's shares now stand at around 18p, compared with 800p last March. In September its cash reserves were down to £45m. Jim Rose, CEO of QXL, said: "QXL's business continues to experience solid growth in the recent quarter. We have developed our customer offering and increased our focus on multi-device access to QXL. We have completed significant acquisitions."
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