United Kingdom
United States
Asia Pacific
Lastminute reports strong Q1 results
Lastminute.com says it is on target to become profitable in the UK and France by June.
In the three months to December 31 its customer conversion rate improved to 16.1% from 8.9% during the same period a year ago. Total transaction value for the quarter grew by 56.8% year on year to £31.7m – however this was down 32% on the previous quarter.
The traditionally weak booking period also hit turnover which fell 32% on the previous quarter to £4.77m – however this was up from £2.92m in the same period last year.
Chief Executive Brent Hoberman said: “This first quarter, whilst seasonally the weakest for our business in terms of total transaction value (especially when compared to the preceding quarter which is seasonally our strongest) is in line with our expectations for the group. The continued rapid growth of our company enables us to further strengthen our competitive advantage and offer our customers an increasingly rewarding experience when they visit our site.”
Lastminute has also announced that it has completed a joint venture agreement with with Kinki Nippon Tourist Company, Nippon Travel Agency, Mitsubishi Corporation/MC Capital Fund and new investors Credit Saison and Japan Efund to establish an e-commerce business under the lastminute.com brand in Japan.
See our previous stories:
30 Jan 2002 lastminute.com announces Japan joint venture
23 Jan 2002Lastminute and Orange sign m-commerce deal
22 Jan 2002Early success for Mytravel.com
16 Jan 2002Lastminute to auction holidays on TV
26 Nov 2001Lastminute boosts UK website with Viator offering
23 Nov 2001Lastminute on track for profitability
Mark Jaronski of Explore Georgia on FIFA World Cup 2026
Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange
North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
BA suspending all Heathrow to Abu Dhabi flights
Turkish Airlines flight in emergency landing after pilot dies
Unexpected wave rocks cruise ship
Woman dies after going overboard in English Channel
Foreign Office issues travel advisory for winter sun destinations