Lastminute losses grow

But more users are buying from the site, chief exec says

Travel site saw its losses more than double year-on-year to £15.4m, the site announced Monday. Turnover boomed by seven times, however, to £2.9m, and gross margins rose 5.5 percent to 13.7 percent.

Lastminute, one of the most high-profile of the UK's Internet startups, said its number of users remained fairly static over the last quarter, but the number of users who made purchases had risen because of new technology built into the site's home page.

The site acquired French rival Degriftour in August. Shares climbed Monday 11p to 71p but by midday Tuesday had settled to 66p.

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