Lastminute losses grow as Thomas Cook deal signed

Lastminute.com has reported losses of £11.7m for the last quarter of 2000 ending December 31, up from £9.5m in the previous quarter.

LONDON (Brand Republic) - Lastminute.com has reported losses of £11.7m for the last quarter of 2000 ending December 31, up from £9.5m in the previous quarter.

The rising losses came as the online booking site signed a deal with the online arm of travel company Thomas Cook.

Lastminute’s chairman Allan Leighton was upbeat about the results, pointing out that gross margin grew from 10.1% to 13.7%.

“As we have said before, there is a lot to do. However, our strong brand, our widening offer, the successful integration of [French website] Degriftour, our new technology platform and our cash position continue to provide us with confidence as we build the business towards profitability,” he said.

Lastminute’s subscriber base was 2.86m at the end of 2000, compared with 571,687 a year earlier, but numbers grew by just 10,000 over Christmas.

The deal with Thomas Cook means that Lastminute customers will be able to book holidays well in advance -- a shift away from Lastminute’s original idea. Thomas Cook’s website will now offer last-minute tickets, gifts, and other products.

www.lastminute.com

www.thomascook.com

www.Degriftour.fr



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