29th Oct 2024 12:11
Touchstar PLC - Glasgow, Scotland-based supplier of mobile data computing solutions and managed services to a variety of industrial sectors - Expects revenue for calendar 2024 to be below previous expectations, as orders take longer to convert and a "significant" 2024 order is rescheduled for rollout in 2025. Touchstar says customers have returned to "just in time" order placement behaviour rather than "more aggressive" strategies. The company previously expected full-year trading to be second-half weighted, but now anticipates revenue broadly similar to its first half, with "a consequential impact on profits for the year". Revenue for the six months that ended June 30 was GBP3.4 million, down 8.1% from GBP3.7 million the year before. It said its expectations for 2025 remain unchanged, but did not specify what they were. The lowered guidance follows Touchstar's launch of a strategic review in September to assess the company's future.
Current stock price: 94.00 pence, down 10% in London on Tuesday afternoon
12-month change: up 4.4%
By Emily Parsons, Alliance News reporter
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