The online retailer Lastminute.com has announced that it has experienced an increase in turnover and a reduction in pre tax losses for the quarter ended March 31, 2002.
Lastminute.com, one of the pioneers of the dotcom boom in the UK, released figures declaring that turnover for the quarter totalled £6.8 million, an increase of around £4 million on figures for the same period last year. It was also announced that pre tax losses had been reduced from £10.7 million to around £5.3 million. Lastminute.com executives believe tighter cost controls and higher business volumes are the main reasons behind the organizations improved operational performance.
Shareholders were also cheered by the news that the company’s business operations in France and the UK had achieved operational profitability, three months before industry analysts had predicted.
Lastminute.com also announced an increase in the number of subscribers to its website, up 40% to five million. The number of items sold online also increased by a third to 360,000.