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Touchstar trading ahead of expectations on higher sales, margins

By BFN News | 09:32 AM | Wednesday 23 June, 2021


Transportation services provider Touchstar said it was trading ahead of expectations, citing improved sales and margins combined with cost management. 'The encouraging trends observed across our business have continued and Touchstar's performance this year to date has exceeded our expectation, it said in an AGM trading update. 'This has been achieved by favourable revenue development, an increase in margins and continued tight management of expenses.' Touchstar said said its order book was building back, increasing by over 50% since the year end and currently stood at over £0.75 million. 'Reassuringly it is beginning to include orders from sectors most impact by the pandemic,' it added. 'A key focus for management is upon achieving an increasing percentage of sales from long term recurring revenue contracts.' 'In the year to date these revenues are up 12% compared to the equivalent period last year.' 'We expect a strong first half performance to, at a minimum, underpin the full year results.' Story provided by StockMarketWire.com

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