Lastminute.com - Lower than Expected Losses

7 comments

It is reported that Lastminute dot com have "lower than expected losses"

Quote:
Recent acquisitions have helped online travel agent Lastminute.com to unveil lower-than-expected losses for the last three months of 2004.

Lastminute is now one of the dotcom boom's last survivors and struggling, I never could work out why the world was prepared to value it at around 800 million in the first place.

Profitability seems always to be "2 years from now", and never seems to materialise. They have consisently posted losses

However they have made several bricks and mortar acquisitions with funds, which makes them less reliant on the web.

I guess most of feel a bit aggrieved that we never made it to the stock market before the bubble burst!

Comments

anonymous fax questioning lastminutes finances

A BBC report on shinagins over Lastminute's financial status

Quote:
Online travel firm Lastminute.com is to ask the Financial Services Authority (FSA) to investigate an anonymous fax questioning its financial situation.
Quote:
Shares in Lastminute.com closed higher on 10 February after the results were released, but lost about 5% of their value when the fax started to circulate in the City last week.
Quote:
He (the Lastminute CEO) said the company was in no danger of running out of cash as the writer of the fax claimed.

There is no truth in any rumour that I am behind the fax, but you wouldn't catch be buying their shares for long term investment. On the other hand if there is a takeover in the offing....

Apparently the money is on Expedia buying them

Quote:
Lastminute.com gathered pace, with the shares rising 2 to 115p on heavy volumes, as dealers speculated online travel agency group Expedia could be running its slide rule over the business.

from [url=http://money.telegraph.co.uk/money/main.jhtml?xml=/money/2005/02/12/cxmkt12.xml&menuId=242&sSheet=/money/2005/02/12/ixfrontmarkets.html ] todays Telegraph in UK [/url]

[small] if you believe what you read in the Telegraph you will believe anything [/small]

you for sale

Heard Diller is looking for something in Europe Sly:)

DougS

There is one guy who is welco

There is one guy who is welcome anywhere :)

Dougs

That's because Europe doesn't have a nutcase like Barry Diller with 10 billion dollars to spend on internet companies.

I hope he does come to Europe though :)

LM moving forward

Agreed they were branding themselves as an online player who really had no idea of what was going on in the online space, but they are learning quick and staring to come to play, don't doubt it. LM as a company has bought some dogs, but some interesting partners, OTC had some interesting technology. They also now have access to 1000's of trade partners with the acquisition of Holiday Autos and there supply deals are slowly starting to make themselves available to these trade partners, so they are moving to be a B2B player as well as a B2C partner.

Personally I reckon they will be bought, as their technology is still well behind people like IAN. With Cedant buying ebookers and the big america players commited to come to Europe they will be swallowed up.

In the Us the top 10 produing web sites in travel are owned by 3 companies, in the UK the top 10 are owned by 10 different companies. The market will consolidate more, especially as the margin in travel get cut. Volume is king.

DougS

yes I'm jealous too...

any hi-tech company that ran off e-mail forms and fax machines for years while the rest of the world looked on it as a role model had some blindingly good PR (of the offline variety).

It's a classic example of being in the right place at the right time I feel. And damn I got into this a couple of years too late. Still at least I never brought LM shares :)