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Touchstar PLC (TST)

Touchstar PLC

Trading Update
RNS Number : 9686B
Touchstar PLC
05 February 2020
 

 

 

Touchstar plc

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

 

Trading Update

 

The Board of Touchstar plc is pleased to issue a further update on Company's trading for the year ended 31 December 2019.

 

Pleasingly, the Company completed a higher level of shipments to customers by the year end than had been anticipated. As a result, it now expects to report revenue for the year ended 31 December 2019 of £7.1million, slightly ahead of previous guidance and which will represent year on year growth of 8% from continuing activities. In addition, the financial result for 2019 will be better than anticipated at both the pre and post tax levels

 

Given the Company's solid cash generative character, the improved trading position has translated into strong positive cashflow. The net cash position on the 31 December 2019 was stronger than expected at £849,000 (FY 2018: £296,000). 

 

Since the company's last update on 18 December 2019, the Group's order inflow has continued to be encouraging. At the year end the order book stood at £1.2 million (FY 2018: £254,000) and it has subsequently increased to approximately £1.7 million by the end of January 2020.

 

The Company expects to announce its final results for the year ended 31 December 2019 in mid-April 2020.

 

Commenting Ian Martin, Chairman, said: "The Board is delighted that the Company has had a stronger than anticipated finish to 2019 and to be entering 2020 with an encouraging order book. We expect to provide a further update on the outlook for 2020 as part of the announcement of the final results in April."

 

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

For further information, please contact:

 

Touchstar plc

Ian Martin

Mark Hardy

0161 874 5050

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.
 
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