LONDON, May 15, 2003 (PRIMEZONE) -- Continuing strong progress in a tough quarter for the travel industry lastminute.com (Nasdaq:LMIN) today announces Quarter 2 2003 and interim results:
-- 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 pounds (Q2 2002: (40.8m pounds)
-- Gross profit for the Quarter up 144.0% to 15.0m pounds
(Q2 2002: 6.1m pounds)
-- Record forward bookings at 31 March 2003 of 56.0m pounds
(Q2 2002: 13.8m pounds) including advanced sales in holiday
autos of 31.0m pounds
-- Group EBITDA loss before exceptional items 1.7m pounds, down
45.2% year-on-year (Q2 2002: EBITDA loss 3.2m pounds)
-- Loss (before goodwill amortisation, exceptional items
and taxation) down 20.2% year-on-year to 4.2m pounds
(Q2 2002: 5.3m pounds)
-- Operating cash inflow (before exceptional items) of 0.9m
pounds for the Quarter (Q2 2002: outflow of 1.4m pounds)
after 0.6 million pounds outflow in holiday autos
-- "Breakbuilder," the lastminute.com dynamic packaging
product, achieved TTV of 5.3m pounds in the Quarter and
now represents 9.7% of UK TTV
-- The holiday autos acquisition, the largest leisure car
rental broker in the world, now completed
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."
To download the full report, please click the following link:http://reports.huginonline.com/903886/118059.pdf
High resolution photographs will be available to media atwww.vismedia.co.uk
Notes to Editors:
About lastminute.com
lastminute.com operates directly in eight European countries andparticipates in four international joint ventures, providinginspirations and solutions for customers at the last minute. At 31March 2003 lastminute.com had over 7 million subscribers to itsweekly newsletter and had established over 15,000 supplierrelationships.
The business is based on the idea of matching supply and demand.lastminute.com offers consumers opportunities to acquire airlinetickets, hotel rooms, package holidays, car-hire, entertainmenttickets, restaurant reservations and food delivery, specialityservices, gifts and auctions in the United Kingdom, France, Germany,Italy, Sweden, the Netherlands, Spain, Belgium, Australia, NewZealand, South Africa and Japan.