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05/08/2003
Lastminute.com enjoys second trip into black
Lastminute.com has reported healthy trading to take the company into the black for only the second quarterly period, according to the company’s interim report.
Following a series of acquisitions, the internet travel, holiday and leisure booking firm said they had experienced significant “organic growth” in the quarter of 50.2%.
Lastminute.com’s total transaction values for the three months to the end of June grew by 147.1% year-on-year to a record £150.9 million rising from £61 million on the corresponding three months in 2002.
This is only the second quarter that the company has reported a profit. The previous period was in the three months to September 2002 and the company was not expected to return to profit until late 2004 or early 2005.
The Chairman of Lastminute.com, Allan Leighton, said: "I am pleased to report that lastminute.com delivered significant positive EBITDA and overall trading profitability despite a difficult trading environment still affected by Sars, war and terrorism concerns post the Iraqi conflict.”
Last year the company reported a pre-tax loss of £4 million in the third quarter, but this year Lastminute.com reported a profit of £1.6 million.
The company’s shares rose slightly on the figures which had exceeded analysts’ expectations.
The company also reported record forward bookings which as of 30 June 2003 stood at £61.1 million - up from £33.9 million Q3 2002.
(SP)
Following a series of acquisitions, the internet travel, holiday and leisure booking firm said they had experienced significant “organic growth” in the quarter of 50.2%.
Lastminute.com’s total transaction values for the three months to the end of June grew by 147.1% year-on-year to a record £150.9 million rising from £61 million on the corresponding three months in 2002.
This is only the second quarter that the company has reported a profit. The previous period was in the three months to September 2002 and the company was not expected to return to profit until late 2004 or early 2005.
The Chairman of Lastminute.com, Allan Leighton, said: "I am pleased to report that lastminute.com delivered significant positive EBITDA and overall trading profitability despite a difficult trading environment still affected by Sars, war and terrorism concerns post the Iraqi conflict.”
Last year the company reported a pre-tax loss of £4 million in the third quarter, but this year Lastminute.com reported a profit of £1.6 million.
The company’s shares rose slightly on the figures which had exceeded analysts’ expectations.
The company also reported record forward bookings which as of 30 June 2003 stood at £61.1 million - up from £33.9 million Q3 2002.
(SP)
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