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Touchstar PLC (TST)

Touchstar PLC

Trading Update
RNS Number : 3695T
Touchstar PLC
05 January 2017
 

5 January 2017

Touchstar plc

 

Trading Update

 

The Board of Touchstar plc ((AIM:TST) 'Touchstar', the 'Company' or 'the Group'), announces that the Company experienced a difficult end to the financial year. The combined negative factors of a deferral in certain orders into 2017 and having to provide for a significant bad debt at our Touchstar Access Control (the first in Group history) means the Company will no longer meet expectations for the financial year ending 31 December 2016. Profit before tax in the second half of 2016 is now expected to have been broadly break-even.

 

Touchstar made a great deal of progress during 2016 so it is naturally very disappointing to report this news. The Company expects to release financial results for the year ending 31 December 2016 around mid-April.

 

Whilst it is very early to comment on the prospects for the current year, at this stage the Board remains comfortable with the current market expectations for 2017.

 

 

For further information, please contact:

 

Touchstar plc

Ian Martin

Mark Hardy

01274 741860

01274 741860

WH Ireland - Nominated Adviser

Mike Coe/Ed Allsopp

0117 945 3472

WH Ireland - Investor Relations

Jessica Metcalf

0113 394 6623

 

Information on Touchstar plc can be seen at: www.touchstarplc.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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