loss for the first six months of $655,448, after an operating loss of $39,745 and the company's $615,703 loss attributable to its former US investment, Attitude Network.

The company did not provide comparable figures for the first half of last year.

Millennium chairman, William Midon, said: "The Millennium group of companies are well positioned for revenue and profitability growth. We are pleased with the first six months performance, and expect a strong finish to the fiscal year.'' That will be helped by the fact that Attitude Network was sold subsequent to the reporting period, and Millennium will take a one-time gain of $3.3 million.

Subsidiaries Internet (Bermuda) Ltd. (IBL) and Business Systems Ltd. together realised revenue growth of 10 percent to $3.4 million, and a combined net profit of $196,194.

Millennium said IBL cited the general acceptance of the Internet and IBL's wide range of Internet-based products and technologies as key to its favourable performance.

Millennium results The Bahamian subsidiaries, Digital Systems (Bahamas) Ltd. (DSBL) and Internet (Bahamas) Ltd. realised revenue growth of 83 percent to $2.1 million and a profit of $145,665.

The company said the strong return to profitability for Digital Systems (Bahamas) Ltd. is attributable to a re-emphasis on providing technology-driven business solutions.

Internet (Bahamas) Ltd. has won two international quality awards in its first year of operation. By teaming with the technology group at DSBL, the company is delivering Internet driven applications to the market, including the development of a wide area intranet that will deliver shared listing information to 50 members of the Bahamas Real Estate Association.