iTouch drives revenues

16 Mar 2004

Mobile applications group iTouch has boosted its sales revenues by 88pc to £18.2m sterling in the fourth quarter 2003. Revenues for the full year were up 79pc to £60.3m sterling.

The group, in which Independent News & Media has a 50pc stake, said operating losses for the quarter fell to £600,0000 sterling from £3.7m sterling in the previous year, while losses shrank to £5.3m sterling from £16.2m sterling in the full year.

The company attributed its improving balance sheet to its Movilisto acquisition in Spain in June last year and its involvement in Pop Idol, the popular TV talent contest in December, for which iTouch provided the voting platform.

The company said it planned to expand into new geographies during the coming year.

By Brian Skelly