Online travel site Lastminute.com said today that it expects to make a profit within 12 months after posting a reduction in second quarter pre-tax losses.
By Sonya Rabbitte, 8 May 2001 11:36
NEWS Losses for the quarter ending 31 March 2001 were £14.3m - down from £15.4m in the first quarter. Gross profit rose 39 per cent on the first quarter to £3.9m. Revenue was up 40 per cent from £2.9m in the first quarter, but customer figures were down slightly to 431,598, from 480,020 a year ago. At the end of the quarter Lastminute.com had £61.8m in cash, with the quarterly cash burn rate reduced to £9.14m.
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