Trading Update
29/10/2024 07:00
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RNS Number : 9402J Touchstar PLC 29 October 2024
This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.
Touchstar plc
(the "Company", "Touchstar" or the "Group")
Trading update for the year ended 31 December 2024
Trading expected to be below expectations
Outlook for 2025 unchanged
Touchstar plc (AIM: TST), suppliers of mobile data computing solutions and
managed services to a variety of industrial sectors, announces a trading
update for the year ended 31 December 2024 ("FY24").
The interim results announced on 26 September 2024 indicated that the trading
for FY24 would be second half weighted but that management believed the
outturn would be in line with expectations. As has been previously reported
customers have returned to more of a "just in time" behaviour rather than a
more aggressive order placement strategy and implementation. In addition,
orders are taking longer to convert and a significant order due to be
delivered in 2024 has now been rescheduled for rollout in 2025.
Management now consider that the revenue for FY24 will below their previous
expectation and will be broadly similar to the first half with a consequential
impact on profits for the year. The second half is still expected to be
strongly cash generative. Management's expectations for trading in FY 2025
remain unchanged.
The Board is disappointed with this development but remains confident in the
value and potential of the business. The strategic review announced on 26
September 2024 continues and shareholders will be updated on progress when
appropriate.
For further information, please contact:
Touchstar plc www.touchstarplc.com (http://www.touchstarplc.com/)
Ian Martin 0161 874 5050
Mark Hardy 0161 874 5050
Zeus - Nominated Adviser & Broker 0203 829 5000
Investment Banking - Mike Coe/Sarah Mather
Information on Touchstar plc can be seen at: www.touchstarplc.com
(http://www.touchstarplc.com)
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