Mobile services firm ITouch said it expects to be close to break-even for the full year as it swung into profit in third quarter and reduced losses by 85 per cent during the nine-month period.
During the three months, the London-listed company, which is 50 per cent owned by Independent News & Media, posted earnings before interest, tax, depreciation and amortisation (EBITDA) of £800,000 sterling against a loss of £1.7 million, on sales rising 57 per cent to £16.3 million from £10.3 million.
For the nine-month period, pre-exceptional EBITDA loss narrowed to £1.1 million from £7.3 million as sales rose 76 per cent to £42.1 million from £23.9 million.
ITouch said as it is increasing its focus on the emerging data market and is undertaking a strategic review of existing operations that may lead to some impairment of goodwill but will position the group for strong financial performance in 2004.