Consolidator’s losses spiral

 

 

 

 

 

 

 

 

 

 

 

Journal: TWUK	Section:
Title:	Issue Date: 24/07/00
Author:	Page Number: 5
Copyright: Other

 

 

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Ebookers.com

 

Consolidator’s losses spiral

ON-LINE consolidator ebookers.com has reported a pre-tax loss of £12.8m in the first half of this year, compared with a deficit of £710,000 in the same period in 1999.

 

 

Turnover rose by 876% to £35.1m in the first half of this year.

 

 

Despite the huge leap in losses, ebookers.com has predicted it will reach profitability by late next year or early 2002, rather than in 2003 as originally forecast.

 

 

It achieved 184,000 bookings in the first half of this year, compared with just under 10,000 in the first half of last year. The average sale was £430. Ebookers.com has just secured an extra £4m in funding but it is seeking a further £26m from financial backers.