iTouch pre-tax profits €5.3m in 2004

PRE-TAX profits at iTouch, the mobile phone streamed services provider, hit £3.7m (€5.3m) in 2004 ending the company’s years of cash burn and leaving it sitting on a net cash pile of £13.1m.

iTouch, 34% owned by Tony O’Reilly’s Independent News and Media, reported year-on-year revenues up 29% to £78m (2003: £60.3m), and pre-tax profits of £3.7m, up from £4.9m losses in 2003.

iTouch’s consumer data revenues rose by 229% to £48.6m in the year to the end of December.