By Ron Coates, 18 May 2004 14:20
NEWS Mobile data and entertainment group iTouch has moved into profit and revealed plans to expand into France and Poland.
Company CEO Wayne Pitout said: "The driver is the young generation's insatiable appetite for entertainment." He added that iTouch had sold 40 million ring tones last year but that MMS was not the bonanza that everyone had predicted and hoped for.
Pitout said: "We are disappointed in MMS. We'll have to rely on the operators to get it up and running. They haven't really established its interoperability. We don't expect anything from MMS in the near term - maybe in 12 months or so."
The company recently launched a 10p per minute racing service with long-standing partner Ladbrokes, which is currently bringing in 15-20,000 call minutes a day. Overall the company is generating 300,000 transactions a day, with a target of half a million.
iTouch is concentrating on its European operations and is currently active in the UK, Ireland, Spain and Portugal and is testing operations in Poland and France.
The company's first quarter pre-tax profit of £600,000 was its first. It lost £2.2m for the equivalent period last year. Turnover was £16.9m for the quarter.
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