Baltimore cuts losses in the first half of the year

Baltimore has reported lower pre-tax losses of £9m (€12.8m) for the first half of 2003, this is a considerable improvement on the pre-tax losses in the same period in 2002, when they were £43m (€61m).

The company has in the past year sold off a number of business units and this was shown in the drop in revenues. Total revenues for the half year were £9.7m (€13.5m), down from £22.1m (€31.4m).