lastminute.com shows continued growth
lastminute.com has announced strong Quarter 3 results for the three months to 30 June 2002.
lastminute’s customer conversion rate improved to 20.7% from 12.4% in Quarter 3 2001 and from 18.3% in Quarter 2 2002 and cumulative customer numbers since inception are now at record levels, in excess of 1.0 million.
Other key statistics are that the UK and France increased operating profit without contributions from the acquisitions; cash balance is £41.5m; net loss has been reduced to £4m from £5.3m in the previous quarter; and gross profit up to £7.9m.
Commenting on the results, chairman Allan Leighton said: “These results demonstrate the further shift towards Group profitability and positive cashflow. All metrics show underlying improvement and development.”
Chief Executive Officer Brent Hoberman added: “The integration of Travelselect and The Destination Group is progressing well and will be completed by 30 September 2002. This Quarter has been key in terms of the strategic acquisitions which will add considerably to shareholder value and create a step change in the scale of the business.”
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