Last checked at 5 Jan 2017 07:00
5 January 2017
Touchstar plc
Trading Update
The Board of Touchstar plc ((AIM:TST) 'Touchstar', the 'Company' or 'the Group'), announces that the Company experienced a difficult end to the financial year. The combined negative factors of a deferral in certain orders into 2017 and having to provide for a significant bad debt at our Touchstar Access Control (the first in Group history) means the Company will no longer meet expectations for the financial year ending 31 December 2016. Profit before tax in the second half of 2016 is now expected to have been broadly break-even.
Touchstar made a great deal of progress during 2016 so it is naturally very disappointing to report this news. The Company expects to release financial results for the year ending 31 December 2016 around mid-April.
Whilst it is very early to comment on the prospects for the current year, at this stage the Board remains comfortable with the current market expectations for 2017.
For further information, please contact:
Touchstar plc | Ian Martin Mark Hardy | 01274 741860 01274 741860 |
WH Ireland - Nominated Adviser | Mike Coe/Ed Allsopp | 0117 945 3472 |
WH Ireland - Investor Relations | Jessica Metcalf | 0113 394 6623 |
Information on Touchstar plc can be seen at: www.touchstarplc.com