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News Burst: Losses and users up at Lastminute.com

Nearly three million subscribers, but losses up 800 per cent

Despite a huge rise in users, Lastminute.com made a net loss of almost £36m in the year to September 2000.

The figures compare with a loss of only £4.5m in the year to September 1999. The company reported a rise in registered subscribers -- 2.9 million up from 365,000 a year earlier.

The results were slightly worse than analysts had predicted.

The dot-com, recently voted the UK's worst travel site, recorded a big increase in transactions. Sales of goods and services totalled £34.2 million in the year, compared with only £2.6m the previous year.

Lastminute.com's chairman Allan Leighton claimed that recent acquisitions would help to bring forward the time when the company would become profitable.

In October, Lastminute.com acquired Degritour, France's largest e-travel group.

Full story to follow.

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