12th Feb 2019 11:40
LONDON (Alliance News) - Touchstar PLC on Tuesday said it expects 2018 loss to be "considerably better than market expectations", as it launched an operational review of the business.
The company specialising in real time data capture and mobile computing solutions expects 2018 loss after research & development tax credits, to be better than market expectations.
"Although turnover will be somewhat lower than expectations, this will be more than compensated by achievement of higher margins, reflective of the move to more software-based sales and lower costs," the company said.
The better-than-expected results were due to a strong trading in the Transportation sector, as new clients were secured and existing clients began to upgrade to a new generation of products and services.
The company said its business review will focus on simplifying the company's structure and ensure focus lies where it has a strong market position. The review is expected to be completed by mid-April.
For 2019, the company expects to see "significant improvement" in the its performance despite the political and economical uncertainty.
Touchstar shares were untraded at 36.00 pence each.
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