LONDON, May 3, 2000 (PRIMEZONE) -
Financial Highlights Q2 over Q1
-- Q2 total transaction value grew 68% to 7.2 million pounds
-- New customers doubled
-- Gross profit grew 102% to 707k pounds
-- Registered subscribers across Europe grew 142% to 1.4 million
-- Number of items sold grew by 88%
Business Strategy Highlights
-- Signed major distribution deals broadening reach of
lastminute.com across Europe:
- AOL, Excite, NTL, TPS, World Online
-- Suppliers increased 124% to 2,466 Q2 over Q1
-- 45% of items sold in Q2 were non-travel related
-- National awareness of lastminute.com doubled over quarter
from 22% to 46%:
- Most ecognized e-commerce brand in London and second most
recognized in UK*
-- First sponsorship deal of weekly email showing potential for
alternative revenue streams
lastminute.com plc "LSE:LMC" (Nasdaq:LMIN), the provider of a global market place for last minute solutions on the internet, announces results for the second quarter and the six months ended 31 March 2000. These are the first set of results since admission to the Official List of the London Stock Exchange and the NASDAQ National Market in March 2000.
Six months ended 31 March 2000
6 Months Ended 6 Months Ended Growth
31 Mar 2000 31 Mar 1999
-------------------- -------------- --------------------
Total transaction value 11,417k pounds 300k pounds 3,706%
Gross profit 1,112k pounds 25k pounds 4,348%
Quarter ended 31 March 2000
Quarter ended Quarter ended Growth
31 Mar 2000 31 Dec 1999
--------------------- ------------- -------------------
Registered subscribers 1,385,042 571,687 142%
Customers since inception 65,387 28,687 128%
Number of items sold
during quarter 74,541 39,683 88%
Number of suppliers
at period end 2,466 1,102 124%
Total transaction value 7,162k pounds 4,255k pounds 68%
Gross profit 707k pounds 350k pounds 102%
* BMRB poll of 3,000 respondents conducted in January and April 2000.
Excluding ISPs and search engines.
Commenting on the results Brent Hoberman, Chief Executive Officer, said:
"The growth we have demonstrated shows the significant progress we are making in building a global last minute marketplace. By increasing our supplier base and adding new delivery platforms for our services, we continue to provide our growing European customer base with inspiration and solutions for their last minute requirements. We are delighted that growth has continued during the period - our total transaction value for the quarter was three times that for the total financial year 1999."
Significant marketing and distribution agreements signed across Europe include:
-- AOL and Netscape (UK, France, Germany)
-- World Online (Pan European)
-- Excite UK
-- TPS interactive digital TV (France)
-- T-Online (Germany)
-- Ericsson
-- NTL, CWC and Telewest giving access to customers in a potential
12 million homes
-- Extending its WAP phone distribution, going live on BT and
Cellnet WAP
-- Over 32m page views in March
lastminute.com has strengthened its supplier relationships:
-- Agreements now in place with 55 national scheduled airlines,
increased from 29
-- Current auction of 10,000 seats with British Midland
-- An exclusive UK nationwide promotion with UCI cinemas
-- Agreed commercial terms with Utell International for access to
7,700 hotels worldwide
Inaugural sponsorship of the weekly email
Independent research reconfirms lastminute.com to be the second most recognised UK e-commerce brand with awareness growing from 22% to 46%. Total sales and marketing spend since its launch in October 1998 has only been £8.4 million.
A conference call facility is in place at 9.30am UK time to cover the UK analyst presentation.
UK - 020 8781 0562. To gain access, please quote lastminute.com and Mr Hoberman.
If you will be unable to meet this time, there will be a replay version available for 24 hours following the presentation. UK - 0208 288 4459, access code: 696 862.
At 3pm UK time a second conference call will take place for US investors and analysts. The dial in numbers for this call are as follows: UK - 020 8781 0562 US - +1 800 434 7910.
There will also be a replay facility of this call available for up to 24 hours. UK - 0208 288 4459, access code: 696 932 US - +1 703 736 7336, access code: 696 932
Slides for the presentation will be available from 9.30am onwards on the lastminute.com Investor Relations page.
Results for the third quarter 2000 are expected to be issued in the first week of August 2000.
Notes to editors:
About lastminute.com - lastminute.com was founded by Brent Hoberman and Martha Lane Fox in 1998. The web site (www.lastminute.com) was launched in the UK in October 1998.
- Based on the idea of matching supply and demand at the last minute via the Internet, lastminute.com works with a range of suppliers in the travel, entertainment, restaurant and gift industries and is dedicated to bringing its customers attractive products and services. lastminute.com aims to provide solutions and inspiration to its customers at short notice.
- Following the success of the UK site, localised versions of the web site have since been launched in France, Germany and Sweden in September, October and December 1999 respectively. lastminute.com now has relationships with over 2,450 key suppliers, including international scheduled airlines, hotels, package tour operators, theatre, sports and entertainment promoters, restaurants, specialty service providers and gift suppliers, both in the UK and internationally. Supplier relationships include British Airways, British Midland, Virgin Atlantic Airways, Bass Hotels and Resorts, Starwood Hotels and Resorts Worldwide, English National Ballet, The Royal Albert Hall, Conran Restaurants and One for the Road.
Please click below for the full Interim Report: