5th Feb 2020 10:54
(Alliance News) - Touchstar PLC on Wednesday said it is entering 2020 with an "encouraging" order book following a "better-than-expected" performance in 2019.
The Manchester-based mobile computing company said it had completed a higher level of shipments to customers by the year end than had been anticipated, resulting in revenue for 2019 of GBP7.1 million, slightly ahead of previous guidance and up 8% year-on-year.
In addition, Touchstar said its financial results for 2019 will be better than anticipated at both the pre- and post-tax levels.
Looking ahead, the AIM-listed company said its order inflow has continued to be encouraging, with the order book standing at GBP1.7 million as at the end of January.
Touchstar said it expects to announce its 2019 results in mid-April 2020.
"The board is delighted that the company has had a stronger than anticipated finish to 2019 and to be entering 2020 with an encouraging order book," said Chair Ian Martin.
He added: "We expect to provide a further update on the outlook for 2020 as part of the announcement of the final results in April."
Touchstar shares were trading 10% higher in London on Wednesday at 48.50 pence each.
By Evelina Grecenko; [email protected]
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