In spite of the intense competition in the mobile phone world in Bermuda, BTC Mobility has seen a jump in business in the six months period ending on September 30.

According to a report issued by KeyTech, Mobility's parent company, the mobile phone provider has seen steady growth in the take-up of the GSM service.

"The increase in access and airtime has resulted in an 11 percent increase in cellular revenue compared to the prior six months," said a release from KeyTech. "Roaming agreements with some 98 countries are now in place and work on enhancing island wide coverage will be completed in January 2004."

Another KeyTech subsidiary, Logic Communications, has also done well during this six month period.

KeyTech said that it had continued a strong financial performance with growth in revenues and net income.

"This result has been achieved through a combination of better than expected performance of hardware and software sales, and planned growth in international long distance voice and consulting services," said the report issued to shareholders. "Not to be overlooked in Logic's success, is Logic's focus on providing exemplary service and support to its clients."

KeyTech also said that its decision to publish the Bermuda Yellow Pages in-house increased contribution from the directory products to consolidated net income by 49 percent.

"KeyTech is pleased with the outcome of this strategy," said the release. "The new subsidiary has been successful operationally and provides opportunities to further develop the services offered by Bermuda Yellow Pages. On-line listings on are now being included in the current advertising sales campaign and have generated a new source of revenue for Bermuda Yellow Pages."

During the six-month period, KeyTech also invested $7.3 million in capital assets as compared to $16.6 million in the same period last year. A significant portion of the prior year capital expenditure was incurred by Mobility for the GSM cellular network, the company said.

Equity losses from affiliates and other investments were $312,341 for the six month period as compared to earnings of $1,352,214 in the prior period. In the prior period Bermuda CableVision reduced the estimated liability for programming fees which had been accrued over a period of fifteen years giving rise to a one time increase in equity earnings in affiliates of $1,370,670.

Investment income from marketable securities for the period was $217,974 compared to a loss of $413,257 for the same period last year reflecting the improvement in general market conditions.

Genespidernet, the international voice calling business in Curacao has not been able to increase market share to a level sufficient to support profitability and the business is being discontinued.

Losses attributable to the minority interests in Genespidernet were nil for the current six month period and $31,044 for the prior six month period.