Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: Business
Front Page 
World 
UK 
UK Politics 
Business 
Market Data 
Economy 
Companies 
Your Money 
Business Basics 
Sci/Tech 
Health 
Education 
Sport 
Entertainment 
Talking Point 
In Depth 
AudioVideo 
Friday, 3 December, 1999, 17:27 GMT
QXL shares soar on Excite deal
qxl logo QXL has 246,000 registered users

Shares in internet auction house QXL soared on Friday as it unveiled news of a deal with web group Excite.

The company's shares were up 33% or 160 pence at 642 pence. The stock had floated in October at 195 pence.

The two companies plan to set up joint auction pages on the internet, allowing users to buy or sell goods.

The pages will be linked to Excite's three main web portals for the UK, France, Germany and Italy.

QXL chief executive Jim Rose said: "We are delighted to be the first online auction house to have co-branded, pan-European auctions with Excite. This agreement provides Excite users with quick and easy access to QXL auction sites."

Richard Foster, e-commerce manager at Excite, said online auctions had become "one of the most popular and successful features across the internet today."

No profit yet

Even though QXL's share price is buoyant, the company has yet to move into profit.

QXL's finance director, Robert Dighero, said he expected the company to move into profit in three to fours years' time.

But the company has been making increasing losses.

Losses before taxation of 14m in the six months to the end of September were compared to a loss of 363,000 for the same period last year.

At the end of September, QXL said it had 246,000 registered users and 130,000 full members of its online auction house
Search BBC News Online

Advanced search options
Launch console
BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
PROGRAMMES GUIDE

See also:
04 Oct 99 |  The Company File
Net shares: a good catch?
09 Nov 99 |  The Company File
QXL sales and users up
03 Oct 99 |  The Economy
UK Net millionaires boom
07 Oct 99 |  The Company File
QXL shares modest rise on debut

Internet links:

The BBC is not responsible for the content of external internet sites
Links to other Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories