Morse, Sun's biggest European reseller, increased turnover by 13 per cent to to £187.1m in the six months ended 31 December 2003 (2002: £185.8m).

Loss before tax was down 28 per cent on the previous six months. Turnover in the UK and Ireland advanced 15 per cent, while continental Europe was up eight per cent for the half year.

The company said in a statement: "In the last few months of the period we have seen increasing levels of activity, improving customer sentiment and, in a number of instances, increased business levels. We believe we may now be entering a period of relative stability which may lead to some revenue growth, although we do not expect this necessarily to follow a smooth or consistent path." ®

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