30th Jun 2020 14:23
(Alliance News) - Touchstar PLC on Tuesday said it expects interim profit and has continued to "outperform" expectations.
The supplier of mobile data computing solutions said it will swing to a "profitable outcome" in the six months to June 30. It reported a GBP527,000 pretax loss in the year prior.
"We continue to outperform against the expectations contained in our roadmap to navigate through this Covid-19 crisis," the company said.
"The positive trading has flowed into greatly improved cashflow. We continue to generate free cash and will report significantly higher cash balances at the interim stage than those we started 2020 with. This is testament to management's determination, focus and the resilience shown by the business through such a challenging period.
"New orders continue to be taken, with the order book expected to be over GBP500,000 at the end of June."
Shares in the company were 15% higher at 53.00 pence each in London on Tuesday afternoon.
By Eric Cunha; [email protected]
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