Touchstar expects trading inline with market expectations

Mobile computing solutions group Touchstar told investors on Monday that it was expecting results for its fiscal year ended 31 December to fall in line with market expectations driven by continued progress throughout the second half.

Touchstar estimated profit after tax would come in at roughly £400,000 over the full-year on a turnover of approximately £8m, broadly in line with its previous trading year where the group reported a profit after tax of £475,000 on revenues of £7.62m.

Touchstar Onboard Retail, providers of onboard retail technology to the travel retail industry, and Touchstar Proof of Delivery, which supplies job and vehicle management solutions to the commercial fleet sector, both delivered "significant rollouts" of recently developed software solutions during the second half, boosting profits as the firm made moves to phase out older products.

Mark Hardy, chief executive of Touchstar, said, "These roll-outs are further key milestones for Touchstar new product innovations. In both instances, the project leaders on either side of the partnership performed well and the implementation of the systems in a timely period was due to their combined efforts and the ease with which cloud-based systems can be implemented."

As of 0920 GMT, shares had gained 11.11% to 75.00p.