Lastminute.com has announced losses of £9.27 million for the
quarter ended 30th June 2000, down £11 million for the previous
quarter, with an increase in the number of registered users to 2.1
million.
Between April and June, Lastminute.com sold 90,500 items, almost
half of which were not travel products. The company made a gross
profit of £950,000 in the quarter, compared with £1.05 million in
the previous quarter.
The share price of the retail site has fallen in past months
following a change in investor confidence. Martha Lane Fox, one of
the founders of the company, said the losses were attributable to
the high cost of investment.
Martha Lane Fox said: “It is obviously investing for the future
in new markets and new platforms. We are determined to keep costs
in line... All internet companies are focused on the path to
profitability... There is no problem with the technology. We just
want to upgrade it to make sure we can really grow in the
future.”
A new version of the site is presently in development. Analysts
believe the company will become profitable in 2003.
