PLEASE TELL US A LITTLE ABOUT YOURSELF SO THAT WE CAN DISPLAY THE MOST
APPROPRIATE CONTENT TO YOU:

This site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about cookies used on Trustnet and how you can manage them, see our Privacy and Cookie Policy.

By clicking "I Agree" below, you acknowledge that you accept our Privacy Policy and Terms of Use.

For more information Click here

Login

Register

It's look like you're leaving us

What would you like us to do with the funds you've selected

Show me all my options Forget them Save them
Customise this table
Share   Print      RSS

Touchstar PLC (TST)

Touchstar PLC

Trading Statement
RNS Number : 6909P
Touchstar PLC
12 February 2019
 

12 February 2019

 

 

Touchstar plc

(the "Company", "Touchstar" or the "Group")

Full Year Trading Update and Group Operational Review

 

Touchstar (AIM: TST),  a company specialising in real time data capture and mobile computing solutions for the retail, logistics and transportation sector, today announces a trading update for the year ended 31 December 2018 and that it is undertaking an operational review of the Group's businesses.

 

Trading Update

 

The board is pleased to announce the losses for the year before tax and after research and development tax credits for the year ended 31 December 2018 will be considerably better than market expectations. Although turnover will be somewhat lower than expectations, this will be  more than compensated by achievement of higher margins, reflective of the move to more software-based sales and lower costs.

 

The results for the year overall benefitted from a strong trading in the Transportation sector as new clients were secured and existing clients began to upgrade to the new generation of Touchstar products and services. After a slow first half, Access Control had a substantially better second half driven by the introduction of new product lines to their customers. Touchstar On Board Retail's performance was below the desired levels as customers delayed implementations.  Logistics traded broadly as expected.

 

A positive dynamic was cash generation, this enabled the group to end the financial year with a healthy net cash position.

 

Group Operational Review

 

The Board is undertaking a review of the structure and operations of the Group's businesses. The objective is to see how the Group structure can be simplified to ensure that focus is upon sectors where Touchstar has a strong market position, deep customer relationships, demonstrable growth potential and the prospect of achieving an adequate return on investment.   

 

The review is expected to be completed and communicated to shareholders on or before the announcement of the 2018 full year financial results in the middle of April.

 

Outlook 2019

 

In line with market expectations, the Board expects to see significant improvement in the Group's performance in 2019 compared to 2018 despite the Group operating in an environment of raised levels of political and economic uncertainty which is likely to persist throughout 2019.

 

 

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations. 

 

 

For further information, please contact:

 

Touchstar plc

Ian Martin

Mark Hardy

0161 8745050

0161 874 5050

WH Ireland - Nominated Adviser

Mike Coe/ Chris Savidge

0117 945 3472

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
TSTTBMRTMBJBBBL
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

You are currently using an old browser which will not be supported by Trustnet after 31/07/2016. To ensure you benefit from all features on the site, please update your browser.   Close