The company expects to post second-quarter losses, excluding exceptional items and before goodwill, of £3.3m-£3.5m. It expects sales to be £14m, up 17% on last time. 365 reported a loss of of £3.7m in its first quarter.
The restructuring was part of a cost-cutting drive announced in May and saw the closure of its unprofitable websites, including music365.com and gardening365.com, while business365.com was merged into its Symphony Telecom subsidiary, which it acquired in February 1999.
The company now offers telecom services and operates mostly sports-related websites -- including football365.com, planet-rugby.com and Sport365.com -- and a telephone portal called Eckoh.
"365 reduced monthly cash consumption significantly over the past three months as its cost-reduction measures start to take effect," the company said in a statement. It will announce its second-quarter results on December 6.
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