Touchstar swing to loss after sales slide

Writer, Stock Market Wire
Wednesday, September 26, 2018 - 07:34

Mobile data computing group Touchstar swung to a first half loss after its revenue slid by almost a fifth.

Pre-tax losses for the six months through June amounted to £415k, swinging from a profit of £5m on-year.

Revenue fell 19% to £3.2m, which the company pinned on the adoption of new accounting standards, older products reaching the end of the their life and a 'slow start' at its Access Control Systems business unit.

Chairman Ian Martin said the company was 'on track'.

'As with last year, this year's trading is expected to be second-half weighed and, with the momentum that we have, the board remains confident of meeting expectations for the year,' he said.

'That achievement alone will not determine our future as the real benefit of the investment we are making is not expected to flow until next year and beyond. Importantly, we are satisfied with our progress so far.'


Related content

Touchstar agrees to sell On-board Retail unit to director Jon Hall

Logistics and transport sector technology group Touchstar said it had agreed to sell non-core business On-board Retail to Jon Hall, a current director of the...

Mon, 02/12/2019 - 07:30


Touchstar posts first-half loss as restructuring costs weigh

Mobile data technology provider Touchstar posted a first-half loss, as rising revenue was offset by restructuring costs.

Pre-tax losses for the six months through June...

Tue, 10/09/2019 - 14:55


Touchstar sees shallower than expected loss despite revenue miss

Data company for the retail and transport sectors Touchstar said it expected to post a shallower loss than the market was currently expecting due to...

Tue, 12/02/2019 - 07:47


Touchstar revenue grows 3%

Touchstar, a supplier of mobile data computing solutions and managed services, increased its revenue by 3% to £7,868,000 in 2017.

This comprised of a relatively...

Thu, 26/04/2018 - 07:28


Touchstar says trading as expected

Touchstar said it expected profits and revenue for the year through December to be in line with market expectations.

Pre-tax profit would be around £400,000...

Mon, 08/01/2018 - 07:42