iTouch turns around losses

Mobile services group iTouch has reported pre-tax profits of £1.1m (€1.6m) for the first half of the year.

The company turned in a loss of £5.1m (€7.5m) in the same period last year.

Revenues grew by 31% to £33.8m (€49.6m), while costs were down dramatically.

Following its recent acquisition of Finnish group Jippii, the company now has a presence in 25 countries. The company said today that new multi-functional mobile phone handsets are driving growth in the European mobile data sector.

Itouch, in which Independent News & Media has a stake, says the outlook is good for the second half of the year.