QXL shares come on leaps and bounds

Ending the week with a smile...

Shares in auction site QXL jumped over thirteen per cent this morning, after the company reported the resignation of boss Jim Rose and said it had reduced losses in the second quarter. Rose will stay with QXL in the role of non-executive deputy chairman, while the current QXL COO Mark Zaleski will take over the position of CEO. QXL said operating loss for the quarter ending September 30 fell 56 per cent to £6.1m on revenue of £1.5m. Gross profit for the quarter rose 136 per cent to £1.15m. Shares were up 13.10 per cent at 10:25GMT.