Information services group iTouch, said the current year has started well as it reported a sharp narrowing in operating losses for the fourth quarter of 2003.
The group said operating losses for the quarter narrowed to £600,0000 sterling from £3.7 million a year earlier, while for the year the loss narrowed to £5.3 million from £16.2 million.
Revenues rose 88 per cent to £18.2 million in the quarter and were up 79 per cent in the year to £60.3 million.
The company said its Movilisto acquisition in Spain, made in June last year, is performing in line with expectations and helped to boost its results. The company said is has successfully launched the Movilisto direct channel model into Britain, Ireland, South Africa and Morocco, and further expansion is planned.