ITouch, the mobile phone services company in which Independent News & Media has a 50 per cent stake, has increased its sales in the first nine months of the year to £10 million sterling (€16 million), more than three times sales in the first nine months of 2000. Net cash at the end of the third quarter was £41.1 million sterling.

Chairman Mr Ivan Fallon said: "Revenue will again increase in the fourth quarter, significantly helped by the acquisition in the UK of Thus plc's Voice business, which is an excellent fit with our existing operation. We are in a strong position and are moving steadily towards our goal of achieving profitability."