Business
Interim results
Interim results.
About this update from Touchstar Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n7 September 2023\n\nTouchstar plc\n \nInterim results for the\nSix months ended 30 June 2023\n \nPositive trends continue, confidence in 2023 outcome with dividend introduced and share buyback commenced\n \nThe Board of Touchstar plc ((AIM:TST) \"Touchstar\", the \"Company\" or the \"Group\"), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, is pleased to announce its interim results for the six months ended 30 June 2023 (\"H1 23\" and \"Period\").\n \nKey Financials\n\n\n\n\n \n\n\nH1 23\n\n\nH1 22\n\n\n% increase\n\n\n\n\nRevenue\n\n\n£3,726,000\n\n\n£3,102,000\n\n\nup 20.1%\n\n\n\n\nMargin\n\n\n55.4%\n\n\n59.8%\n\n\nDown 440bps\n\n\n\n\nEBITDA\nPre-tax profits\n\n\n£657,000\n£307,000\n\n\n£560,000\n£104,000\n\n\nup 17.3%\nup 195.2%\n\n\n\n\nProfit after tax\n\n\n£271,000\n\n\n£164,000\n\n\nup 65.2%\n\n\n\n\nBasic earnings per share (\"EPS\")\n\n\n3.20p\n\n\n1.93p\n\n\nUp 65.8%\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nCash net of overdraft and CIBLs *\n\n\n£2,761,000\n\n\n£1,602,000\n\n\nup 72.3%\n\n\n\n\nOrder book at end H1\n\n\n£1,313,000\n\n\n£1,061,000\n\n\nup 23.8%\n\n\n\n\nRecurring revenue\nProposed interim dividend\n\n\n£1,435,000\n1.0p a share\n\n\n£1,311,000\nnil\n\n\nup 9.5%\n+1.0p\n\n\n\n\n \n* CIBLs Coronavirus Business Interruption Loan fully repaid in July 2022\n \nH1 23 financial highlights\n· Total revenue up 20% to £3,726,000 (H1 22: £3,102,000)\n· Recurring revenue up 9.5% to £1,435,000 (H1 22: £1,311,000)\n· Margins declined 440 basis points in H1:23 to 55.4% (H1 22: 59.8%) predominately due to product mix and investment variation\n· Higher revenues drove continued improvement in profitability\no Profits before tax up 195.2% to £307,000 (H1 22: £104,000)\no After tax profit growth of 65.2% to £271,000 (H1 2...