Internet companies Freeserve and Amazon continue to show losses as they work on building their business models and ignore short term profit.
Latest results for Freeserve, the UK's largest Internet service, showed pre-tax losses of £3.6 million for its second quarter ended 13 November 1999, down from the previous quarter's losses of £5 million.
Turnover for the period was up to £3.8 million from £3.4 million in the first quarter.
Further good news is that subscriber figures have grown to 1.58 million accounts at 13 November, up 12 per cent on the previous quarter end.
John Pluthero, chief executive for Freeserve, said: "We now have the most recognised Internet brand in the country, and through our arrangements with BT Cellnet and others we are building on this to ensure that Freeserve is available wherever the Internet can be accessed."
Meanwhile US based online retailer Amazon warned of losses for its fourth quarter, despite doubling revenue from a year earlier to $650 million, up from $253 million. Full results will be available on 2 February.
Warren Jensen, Amazon chief financial officer, said that higher seasonal sales "will not translate into lower net losses in the fourth quarter. In addition we will incur higher than expected inventory related charges and write-downs, in the large part because we carried deep inventory in startup businesses such as toys and electronics."
However, diversifying sales from only books 18 months ago appears to be a good long-term move.
The company said customer demand for items such as home improvement, software, video games and gift stores from 10 November was so strong that it accounted for more than half of total company revenue, with US based book sales accounting for the rest.
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