Julia Petroni
TouchStar PLC said on Monday it will report higher core earnings and cash generation than expected in 2022, but pre-tax profit and earnings should be in line.
According to the latest information, the UK supplier of mobile data computing services expects profit before interest, tax, depreciation and amortization to increase by more than 25% for the financial year ending 31 December.
The company said it should have a cash balance of £3.5m ($4.34m) at the end of the year, up from £2.5m last year.
TouchStar expects pre-tax profit in 2022 to be double that of 2021. Turnover is expected to increase by more than 10% year-on-year, from his £60m in 2021 to an order book of £1.7m at the end of the year.
Looking ahead to the year, the company expects to record further revenue growth and strong underlying net cash generation and maintain healthy margins. “The current strong order book and deal momentum support our outlook for 2023 and give our directors increased confidence going into 2023,” he said.
TouchStar plans to report final results for 2022 in late April.
Write to Giulia Petroni at giulia.petroni@wsj.com.
