The online travel agency reported a pre-tax profit before exceptional items and goodwill amortisation of 拢300,000 compared with a loss of 拢7.4m last time.
It reported an Ebitda profit of 拢2.8m against a loss of 拢5.7m in 2001, while total transactions grew by 140% from 拢46.9m. However, underneath the profit were a number of one-off charges including a 拢3m cost for reorganisation. After charges, Lastminute made a loss of 拢9.55m during the quarter.
Lastminute chairman Allan Leighton said: "2002 has been a very successful year, delivering strong organic growth strengthened by strategic acquisitions in core countries. The new financial year has started strongly and we are confident of another year of sustained and improving performance as we continue to rapidly increase our scale and presence in targeted markets and sectors."
Lastminute move into profit has been helped by recent acquisitions. The acquisition of Travelprice.com, one of the major independent online travel and leisure providers in France, Italy, Spain and Belgium, at the end of July also helped the group to reverse losses.
Lastminute bought Travelprice in a share deal worth 拢31.9m in July, giving it a presence in 12 countries.
Earlier this week, Lastminute has acquired gift experience company Exhilaration Incentive for an initial sum of 拢1m in shares.
The acquisition will enable lastminute.com to add experiences such as hot-air ballooning, flying lessons and travel on the Orient Express to its lifestyle services. Lastminute.com will issue 955,110 new shares to pay the initial 拢1m.
"The sites now run on a single system, enabling us to further reduce technology spend and achieve greater return on investment," chief executive Brent Hoberman and managing director Martha Lane Fox said in a joint statement.
Lastminute said it now had 6.4m subscribers to its newsletter and 14,500 suppliers.
Lastminute shares were trading up 1.5p at 118p in early trading this morning.
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