Online travel site Lastminute.comsaid today its British and French operations - which make up most of its business - would be profitable in a year.
The company reported a net loss in the second quarter of £10.6 million ($15.3 million), roughly the same as a year earlier, from transactions worth £27.8 million.
It said its gross margin had risen to 13.9 per cent - four points up on a year before - and that on March 31st it had £61.8 million in cash after spending £9.1 million in the quarter.
Lastminute had 3.1 million registered subscribers at the end of the quarter.