What the papers say: Mixed sentiment for lastminute

The past eight days have provided lastminute.com with a roller-coaster ride of extraordinary proportion.

The week started with the high of its broadband restaurant-booking system. Then came the dip: ‘Lastminute axes 14 per cent of workforce’ (bbc.co.uk, 5 August). Then a small rise: ‘Lastminute not as bad as expected’ (digitallook.com, 5 August). And then the fall-out: ‘Lastminute lost value at £106m’ (The Guardian, 7 August).

The 5 August third-quarter financial release was a mixed affair. Early trading saw shares climb with news of an earnings rise and 350 redundancies were positively translated as streamlining the acquisition inheritance. Unfortunately, Monday’s statement to calm market fears over Q4 forecasts caused another run on share value. ‘Clarification fails to clear air for lastminute’ (The Times, 9 August).

The media were polarised. While the Evening Standard asserted that the release ‘smacked of desperation’ (9 August), Motleyfool appreciated the ‘attempted damage repair’ (9 August).

Analysis conducted by Echo Research from data supplied to PRWeek from NewsNow. www.echoresearch.com www.newsnow.co.uk

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