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Touchstar PLC - Manchester-based supplier of mobile data computing services - Wins substantial order from a "petrochemical distribution client", offering them an upgrade to its latest cloud-based solution. Says contract is worth in excess of £1.5 million in the first twelve months, with "subsequent years benefiting from recurring revenues under a multiyear licencing and support agreement". Says contract award reinforces expectations for financial 2022 and financial 2023.
Touchstar says its order book stands at £2.3 million following this award, up from £1.1 million at June 30, as reported in its interim results on September 15.
In September, Touchstar said its order book at June 30 amounted to £1.1 million, up 71% compared to £621,000 a year ago, driven by "major projects in the petrochemical sector returning to normal levels having been halted by the pandemic".
Current stock price: 86.70 pence, up 16% on Tuesday in London
12-month change: down 3.7%
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