By Justin Madubuko, 16 August 2001 11:30
NEWS Lastminute.com claims it has been unaffected by the economic slowdown, and believes it is on track to break even in nine months time. The company reported net loss for the third quarter ended 30 June 2001, down to £8.9m from £10.7m, on revenue up 8.2 per cent at £4.4m on the previous quarter. Martha Lane Fox, Lastminute's co-founder, told Reuters the company is better placed than many others to sit out the period of economic uncertainty. "We haven't seen any effects right now, either positive or negative... We believe Lastminute will not be in the worst position if the recession does hit us because we will have a lot more products available that people will want at great prices," said Fox. The economic slowdown has seen a lot of travel companies with unsold holidays as customers have been looking out for better deals, which Lastminute claims has helped its business growth.
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