Touchstar PLC - Glasgow, Scotland-based supplier of mobile data computing solutions and managed services to a variety of industrial sectors - Posts revenue of £6.7 million for 2022, up 11% from £6.1 million in 2021. Pretax profit is £422,000, up from £207,000. Earnings per share climbs to 6.58 pence, up 64% from 4.02p in 2021. Says recurring revenue growth continues to outpace growth in overall revenue. Looking ahead, Touchstar says it is confident that 2023 will be another good year underpinned by the level of demand and its order book, which stands at £1.7 million at year-end. Says it hopes to be in a position to pay dividends in 2023.

Chair Ian Martin says: ‘2022 was a year of strong progress for Touchstar. The outlook for 2023 is very positive. We have a growth strategy, an experienced and well-motivated leadership team excited by the potential to continue to grow across the Group. Deploying organically generated capital into highly attractive opportunities in our existing markets and starting to roll out a growth strategy internationally’.

Current stock price: 92.22 pence, up 15% on Tuesday morning in London

12-month change: up 23%

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