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Touchstar plc released its financial results for the year ended December 31, 2024, showing a year of internal transition. The company faced challenges due to the delay of a major order, resulting in a 4.6% decline in revenue. However, recurring revenue increased by 4.5%, and the company maintained healthy gross margins. The strategic review initiated by the Board led to management changes, with Lynden Jones appointed as the new CEO. The company plans to increase investment in sales, marketing, and product development, while also focusing on cross-selling and entering new industry sectors. The balance sheet remains strong, and the company recommends a final ordinary dividend of 1.5p per share. The Chairman, Ian Martin, expresses confidence in the companys ability to manage headwinds and deliver financial progress in 2025.
| Financial Metrics | 2024 | 2023 | Change |
|---|---|---|---|
| Revenue | £6,893,000 | £7,224,000 | (4.6%) |
| Operating Profit | £322,000 | £599,000 | (46.2%) |
| Interest and Finance Costs | £66,000 | £76,000 | £(10,000) |
| Adjusted Profit Before Tax | £445,000 | £675,000 | (34%) |
| Profit Before Tax | £388,000 | £675,000 | (42.5%) |
| Tax | £(22,000) | £(36,000) | +£14,000 |
| Profit After Tax | £366,000 | £639,000 | (42.7%) |
| Basic Earnings Per Share | 4.47p | 7.63p | (41.4%) |
| Dividend Per Share | 3.0p | 2.5p | 20% |
| EBITDA | £1,156,000 | £1,336,000 | (13.5%) |
| Year-End Cash | £2,918,000 | £3,005,000 | £(87,000) |
| Cash Per Share | 34.4p | 36.6p | (2.2p) |
| Cash Applied to Dividends and Buy-Backs | £246,000 | £334,000 | £(88,000) |