Former tech boom star finally in black

Former stockmarket star lastminute.com today pleased weary investors by announcing it would move into the black for the first time.

The group is expecting to post a pre-tax profit for the three month period to the end of September, although the figure excludes one-off costs.

Shares surged 10% on the news, up 7p to 89p.

Lastminute.com was one of the darlings of the tech boom - famed for turning founders Martha Lane Fox and Brent Hoberman into paper millionaires overnight when it floated in March 2000.

But the firm became a symbol of the boom ending when shares slumped below their 380p issue price and carried on falling.

Observers then focused on when and if the company, which sells travel and entertainment tickets through its website, would make a profit.