Bookings boom lifts Lastminute

SHARES in lastminute.com hit a three-year high after the dotcom survivor unveiled record forward bookings, dispelling fears of a lull over the crucial summer months.

Chairman Allan Leighton said the firm had coped well with a difficult trading environment still affected by the hangover from Sars and the Iraqi conflict.

The company made a profit of £4.1m for the three months ended June, from losses of £1.7m in the year-earlier period. That's before tax and one-offs. Total transaction value hit £150.9m. The shares rose 10 1/2p to 221 1/2p.

'Summer bookings have started strongly for the key fourth quarter and we remain confident of a positive outcome for the full year,' Leighton said.

Lastminute's registered subscriber base is now more than 7.5m, up 6.4% on the three months to the end of March. The order book is £61.1m, almost double that of a year ago.

Analysts say lastminute is in its best shape since floating three years ago with a value of £716m. Its market capitalisation is now £615m, after a 174% rise in its share price to 211p over the past five months.

The recruitment company behind Monday's appointment of new chief operating officer Ian McCaig, the former managing director of Nokia UK, took £38,000 of its payment in shares, reflecting the confidence in the business.