Auctionbytes-NewsFlash, Number 253 - February 06, 2002 - ISSN 1539-5065
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QXL ricardo plc Announces Q3 Financials
By Ina Steiner
AuctionBytes.com
European online auction company QXL ricardo plc announced results for the third quarter ended December 31, 2001. Gross profit increased 92% over Q3 2000 to £1.4 million; trading loss decreased 56% over Q3 2000 to £5.4 million; and, operating expenses reduced 47% over Q3 2000 to £6.8 million. QXL recently announced the launch of a co-branding programme, providing an integrated auction solution to QXL's existing and future partners.
The BBC reported that QXL Ricardo, "operating under a new chief and with a revised strategy, has said that some national divisions will hit profitability later this year." And the Guardian said that QXL's CEO believes the company is on course to be profitable in 2003 thanks to strong links with partner sites.
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