Monster ISP Freeserve is not expected to make a profit for the next two or three years, its CEO said today. John Pluthero's comments were made on the BBC's Today programme after the company announced its quarterly results. Total turnover was up 36 per cent to £5.1 million during Q3, compared with the second quarter. Losses before taxation were down slightly at £3.5 million, compared to £3.6 million in the previous quarter. E-commerce and advertising revenue grew by 54 per cent to £2.8 million compared to the previous quarter. This now represents 55 per cent of Freeserve' total income. Connectivity revenues increased by 19 per cent to £2.3 million compared to the previous quarter, reflecting the increase in total minutes online and a higher percentage of minutes online at peak rates. However this revenue source could begin to dry up if Freeserve's limited and 24/7 unmetered access packages, announced earlier this week, become widely adopted among its 1.8 million users. Freeserve also announced today that it was forking out a maximum of £60 million in shares for SmartGroups.com, which provides community-based e-mail products and tools. ® Related Stories Freeserve chants 24/7 unmetered mantra