lastminute.com Announces Q2 and Interim Results

Lastminute.com has reported a å£4.2million loss for the second quarter of its financial year, down from å£5.3million in the same period in 2002.

  The company reported record forward bookings at 31 March 2003 of £56.0m (Q2 2002:
  £13.8m) including advanced sales in holiday autos of £31.0m.

  Customer conversion rate improved to 29.1% from 18.3%
  year-on-year. Total transaction value for the Quarter grew by 126.4%
  year-on-year to £92.2m (Q2 2002: £40.8m).


Allan Leighton, Chairman said:
“Our model demonstrated its resilience in the last Quarter which was
tough for the travel industry.  Quarter 3 has started well with a
record order bank for Easter departures.  We remain confident that we
will meet our expectations of continued growth and overall Group
profitability for the current Quarter and the year as a whole.”


Brent Hoberman, Chief Executive, added:
“During the Quarter the Group continued to gain momentum towards the
peak Summer season with a record order bank and record margins.
Industry trends are leading towards more last minute internet
booking, more short breaks and more consumers building their own
flexible packages.  These trends have ensured that demand for our
products remained robust and delivered 60% organic growth in the
Quarter.”

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Related stories on ITN:

(08/05/2003) lastminute Offers Flights Search on Vodafone Live!

(09/04/2003) lastminute.com and Eurostar Launch 3-Month Campaign

(08/04/2003) lastminute and Alitalia Sign Pan European Marketing Deal

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