Data services help ITG ring up strong results

Irish telephone services company ITG Group reported a 122 per cent increase in first-half turnover.

The results are attributed to the success of its electronic transactions, and voice and data divisions. The electronic transaction division grew by 357 per cent to £18.15m, up considerably from £3.96m last year. It also gained from the sale of its stake in Orbiscom. Alan Graham, group head of marketing, said: "These were a good set of results. Our priority is to invest in Europe by targeting transactions and managed services." The company plans to shift emphasis from the voice and data business, which is operational only in Ireland, to its pan-European transaction business. ITG also plans to expand its merchant and software development capabilities especially across Sweden. It acquired Swedish transaction company Gendidata in October and Dutch transaction group Getronics in August last year. Brian Williams, marketing manager at ITG, said: "We plan to rename the electronics transaction division later this month." This news along with the 30 per cent acquisition of Cellular 3 have heightened speculation on an imminent flotation. By Lesley Cowper