Sales and passenger numbers at Ebookers.ie, the Irish business of travel portal Ebookers.com, have more than trebled, the company said yesterday at the release of its annual results.
But no breakdown was available for how much Ebookers.ie contributed to the overall gross sales figure for 2000 of £102.2 million sterling (#161 million) reported by Ebookers.com - a six-fold increase on sales of £15.4 million posted in 1999.
"We're very proud of what Ebookers.ie has contributed to the overall group. We have exceeded targets set by the company month after month," said a spokesman.
Around 70 people are employed by Ebookers.ie in the Irish Life Centre in Dublin. As well as Ireland, the pan-European Internet travel portal has offices in the UK, France, Germany, Finland, Sweden, Norway, Switzerland, the Netherlands, Denmark and Spain.
Despite the rise in sales, the company reported a full-year pre-tax loss of £26.5 million - an increase of £22.2 million on the same period for the previous year.
But the company said its aim of becoming profitable by the end of the year or the first quarter of 2002 was still on target.
It said it had maintained a strong cash balance of $50 million (#54 million), compared to $51.4 million at the end of September.
"Ebookers.com hopes that this figure will help end current generalisations that all Internet companies have fast deteriorating cash positions," it said.
The company also plans to list its shares on the London Stock Exchange. Ebookers, already listed on Frankfurt's Neuer Markt for technology shares and the US Nasdaq index, said the move would bring it closer to its investor base in its largest market and raise consumer awareness. It is also expected to allow it access to institutional funds that could not previously buy Ebookers' stock, the company said, adding that it would actively target small and mid cap funds in the UK and Europe.
The company, which has no plans to change its existing arrangements with the Nasdaq and Neuer markets, said it hoped that London trading would begin by the end of this month.
