Telecoms and electronics transactions company ITG has announced strong interim results for the half year to the end of October 2000.
It also said it would soon announce a new name and corporate identity to mark the group's restructuring.
Pre-tax profits were 10.6 million euros, well up on less than one million euros in 1999, with turnover more than doubling to 56.5 million euros.
The jump in profits was largely due to an exceptional gain of over 10 million euros from the sale of ITG's stake in Orbiscom, in which ITG retains a stake of over 9.5%.
Excluding this, EBITDA dropped 17% to 2.2 million euros.
Losses in the electronic transactions division were 1.9 million euros, with significant investment in its European network accounting for 1.7 million euros of this. Turnover was up 357%
Its recent Dutch and Swedish acquisitions contributed only one month's activity.
Profits in the voice and data division were up slightly to 1.7 million euros on 65% higher turnover of 34 million euros. ITG recently announced an investment in independent mobile operator Cellular 3.
