First profits for ebookers but
losses predicted for next quarter
LONDON - ebookers, the online travel agent, has posted its first-ever profit, but the good news looks likely to be short-lived, as the company says it expects to see a loss in the last quarter of the year.
The company reported a profit of £222,000 for the third quarter of the year compared with a loss of £6.2m for the same period last year.
However, ebookers has warned that costs in the fourth quarter, including operations in India, will mean an Ebidta loss in that quarter. It has said that once these investments are made, substantial cost savings will be delivered.
Up until September 11, when the terrorist attacks in the US took place, ebookers had been enjoying its strongest sales to date.
In the last couple of months, the company has announced substantial job cuts, with up to 20% of its workforce cut as it seeks to reduce costs.
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