QXL still bidding for profitability

QXL Ricardo was upbeat about prospects for the online auction market today after “significant” progress in its battle to return to the black.

The internet firm, once tipped as Europe’s answer to eBay, said losses narrowed to £1.35m (€2m) in the year to March 31, against a deficit of £6.5m (€9.5m) last time as more customers used its sites.