The Innovation Group (TiG) has announced a pretax loss of £1.6m for the three months ending 31 December 2003, compared with losses of £3.8m for the same period in 2002.
TiG said the first quarter loss included amortisation charges of £3.5m and profit on disposal of an associate of £0.6m.
The unaudited accounts revealed that TiG's total revenue for the quarter was £13.8m, compared with £15.8m for the same period in 2002.
Specialised business process outsourcing revenue was £6.4m and TiG's technology solutions division had revenue of £7.4m.
TiG chief executive Hassan Sadiq said the outlook for 2004 was cautiously optimistic.
