9th May 2019 11:40
LONDON (Alliance News) - Touchstar PLC on Thursday reported a reduction in its annual loss despite a fall in revenue, as costs came in much lower.
For 2018, the supplier of mobile data computing solutions posted a pretax loss of GBP1.3 million compared to GBP3.9 million a year prior.
This was due to administrative costs being cut to GBP4.8 million from GBP7.7 million a year before and was despite revenue dropping 12% to GBP6.9 million from GBP7.9 million.
"Our focus now is simple; we need to scale the business," Chair Ian Martin said. "With our solutions in the market, we are better placed than a year ago. It is now down to management to grow the top line. If this is achieved, we should see substantially improved performance this year."
Touchstar shares were trading down 7.9% at 36.86 pence each.
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