ITouch cuts operating losses by £12m

ITOUCH has cut its operating losses from £12.7 million to £6,192 in the first nine months of the year and returned its first positive EBITDA (earnings before interest, tax, depreciation and amortisation).

However, net cash outflow from operating activities hit £5.331m over the last nine months and the company’s cash reserves fell from £29.37m 12 months ago to £11.25m by the end of September.

Independent News and Media has a 38% stake in the group.