Lastminute.com has doubled its year-on-year sales volumes and halved it losses.
The online retailer announced yesterday that its pre-tax loss before exceptional items for April to June 2002 had narrowed to £4m, compared with £9.3m for the same period last year. Sales for the quarter jumped from £29m to £61m.
The upbeat financials prompted Lastminute to claim that it was "approaching group profitability".
The firm's subscriber base increased almost 60 per cent over last year to 5.6 million, and its UK and French businesses have reached break-even, according to a company representative.
Lastminute has recently been on a shopping spree of its own, buying up companies including the French/Italian flights firm travelprice.com for £32m, Destination Holdings Group, and UK flight booking service Travelselect.com for £9m.
Speaking on the BBC's Breakfast programme, Lastminute's co-founder Martha Lane Fox denied that the spending spree was designed to make the company look more attractive to US suitors.
"We're buying businesses because it's absolutely the right opportunity for our shareholders and, more importantly for our customers, because it keeps increasing our product range and the robustness of our model," she said.
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