Online travel travel company, lastminute.com, today said that it is still on track to make its first profit by the end of this year, in what is a symbolic milestone for one of the pioneers of internet commerce.
The group’s Q3 2003 financial results show profits before exceptional items and tax of £1.6 million, up from a loss of £4.0 million for the same period last year. Earnings came in at £4.1 million, up from a loss of £1.9 million last time.
“Substantial technology improvements were achieved in Q3 which resulted in an increase in customer conversion rates as the booking experience was further enhanced,” said chief executive Brent Hoberman.
The travel market has been hit hard by the spread of the Sars virus across the globe, as well as the conditions surrounding the war in Iraq. Nevertheless, lastminute says that summer bookings have started strongly for the key Q4 and the group remains confident of a positive outcome for the full year.
