Mobile services group iTouch, a subsidiary of Independent News & Media, claims to be "well on track" to reach profitability ahead of expectations, despite a round of job losses at the company this year.
It reported results for the first half today that revealed that earnings before interest, tax and depreciation (EBITDA) losses for the first half rose 14 per cent year-on-year to £5.6 million, reflecting certain integration costs recorded in Q1 2002.
The group said it expects Q3 and Q4 EBITDA losses to fall as cost savings come through.
Chairman Mr Ivan Fallon said iTouch had another half of excellent progress. He said the group has continued to consolidate its position in the interactive voice market with the acquisition of Telescope on August 20th, while developing its core mobile data technologies and product range.
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