Touchstar posts modest profit as expenses fall

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Mobile data computing solutions group Touchstar posted a modest first-half profit owing to a drop in expenses.

Pre-tax profit for the six months through June amounted to £130k, compared to a loss of £527m on-year. Revenue fell 13% to £3.2m.

'Touchstar came into 2020 with momentum from a strong order book, clear strategic plans and a solid balance sheet,' chief executive Ian Martin said.

'In the six months ended 30 June 2020 we have had to demonstrate resilience under crisis conditions.'

'It is a real achievement that Touchstar traded profitably, generated cash, supported customers and most importantly looked after staff in a period of a global pandemic and the largest economic contraction in a generation - these are not normal times.'

'We continue to outperform the road map we put in place in February to navigate the business through until 2022.'

At 2:14pm: (LON:TST) Touchstar Plc share price was -5.5p at 47p


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