Lastminute 'in the black by summer'
12 April 2012
LASTMINUTE.COM has cheered investors by declaring that its core British and French operations would move into the black by the summer.
The pledge to reap a profit in the three months to 30 June excludes financing, and headquarters and research costs.
Chief executive Brent Hoberman said the online travel agency and discount retailer was on track to start generating net cash early in 2003. The shares, worth more than 500p at the height of the dotcom boom, rose 3p to 41p.
During a seasonally weak first quarter to 31 December, compounded by the aftermath of 11 September, pre-tax losses narrowed to £10.8m from £11.1m in the previous three months and £15.3m in the same quarter a year ago.
