Touchstar profits slump

Writer, Stock Market Wire
Thursday, September 28, 2017 - 09:02

Touchstar, a supplier of mobile data computing solutions and managed services, saw its profit after tax slump from £296,000 to £5,000 in the first half following a slower than expected start to the year.

The company said the current economic climate of uncertainty and modest growth has led some customers to delay their investment decisions.

It encountered the slippage of two large orders that moved sales from 2016 to 2017, and is still experiencing the lengthening lead times that make forecasting difficult.

Revenue for the six months declined by 4% to £3,981,000 as it phased out older product.

Operating profit before exceptional items declined to £39,000 from £216,000.

The company generated cash of over £160,000, which resulted in the company having a smaller level of net borrowing at the period end of £168,000 compared with the year-end 31 December 2016 position of £329,000.

At 9:02am: (LON:TST) Touchstar Plc share price was -20p at 66.5p

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