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



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

AGM Statement
RNS Number : 4356R
Touchstar PLC
30 June 2020

Touchstar plc

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




Touchstar plc supplies turnkey mobile solutions to the logistics, warehousing and fuel delivery markets in addition to providing access control to high profile and public sector buildings announces that the Chairman will give the following trading update at the Company's  AGM later today.


Trading Update


The forward momentum we had entering this year continues to drive the business forward and we expect a profitable outcome for the six month period ending 30 June 2020.


We continue to outperform against the expectations contained in our roadmap to navigate through this Covid-19 crisis (C-19).


We expect to report what we believe will be a strong interim result for the six months ending 30th June 2020 in early September.


The positive trading has flowed into greatly improved cashflow. We continue to generate free cash and will report significantly higher cash balances at the interim stage than those we started 2020 with. This is testament to management's determination, focus and the resilience shown by the business through such a challenging period.


New orders continue to be taken, with the order book expected to be over £500,000 at the end of June.


We continue to be defensive, with the Group focused on the same three factors. First, looking after our employees; second, to continue to support our customers; and thirdly, cash


In addition to this internally generated cash, our balance sheet has been strengthened further by the approval and drawdown of a £150,000 government Coronavirus Business Interruption Loan (CBIL's). Furthermore the Company currently has additional undrawn banking facilities of £300,000 available.


We feel that the C-19 crisis is far from over and the negative economic implications from this health crisis are now starting to be revealed. So, given the uncertainty, we are not yet in a position to give full year guidance for either 2020 and 2021 until at least the release of our interim results in September.




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 8745050

0161 874 5050

WH Ireland - Nominated Adviser

Mike Coe/ Chris Savidge

0117 945 3472


Information on Touchstar plc can be seen at:







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 or visit
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