Touchstar PLC Trading Update (3695T)

TIDMTST

RNS Number : 3695T

Touchstar PLC

05 January 2017

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             01274 741860 
   Mark Hardy                                     01274 741860 
 WH Ireland - Nominated    Mike Coe/Ed                0117 945 
  Adviser                   Allsopp                       3472 
 WH Ireland - Investor                                0113 394 
  Relations                Jessica Metcalf                6623 
 

Information on Touchstar plc can be seen at: www.touchstarplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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(END) Dow Jones Newswires

January 05, 2017 02:00 ET (07:00 GMT)