iTouch losses reduced for 2003

iTouch has reported reduced pre-tax losses of £5.3m (€7.53m) for the first six months of 2003.

The mobile phone service provider described the results as 'positive' as group revenues were up 90% to £25.8m (€36.6m).

The Voice business showed an 84% revenue increase powered by messaging solutions for big-name TV shows like American Idol 2 in the US and Big Brother.

Wayne Pitout, Chief Executive Officer said that it had now reached sustainable profitability at EBITDA level.

The company - which is 50% owned by Independent News and Media - also said it would continue to target the 16 to 24 year old market.

It stated that text messaging has become a preferred method of communication for this market and will become a key channel for the delivery of mobile services.