Intershop reports poor results despite increased revenue

Ecommerce software provider Intershop more than doubled its losses in financial year 2000, despite a three-fold increase in revenue.

Losses amounted to E39.3m (£25m), compared with E18.4m (£11.7m) for the previous year despite a rise in revenue to E123m (£78.4m). The company laid claim to around 270 new customers. According to financial director Wilfried Beeck, Intershop intends to reach profitability on a quarterly basis again by the end of 2001. The company is banking on substantial growth in Europe, but expecting lesser revenues from the US and Asian markets. The manufacturer's share price slumped at the beginning of this year after revenue figures were lower than expected, and high losses - particularly in the US - became apparent for the fourth quarter.