TSE Touchstone Grp

    RNS Number : 8476Y
  Touchstone Group PLC
  11 July 2008
   



    Touchstone Group plc ("Touchstone" or "the Group")

    Trading statement & Contract Wins

    Touchstone Group plc, the AIM-quoted provider of business software solutions and consultancy services today gives an update on trading
in advance of the release of its preliminary results for the year ended 31 March 2008 which are expected to be announced on 23 July 2008.

    Following a review undertaken as a result of the on-going audit, the Board of Touchstone Group plc has decided to take a more prudent
view of certain outstanding debts and provisions which will indicate that although turnover at �31.4m will be marginally ahead of market
expectations, adjusted profit before tax for the period to 31 March 2008 is likely to be below market expectations and will be in the region
of �2.1m. This shortfall, in part, reflects the impact of certain start-up and ongoing costs on a number of projects and initiatives which
the Board believes will deliver revenues in future periods.

    The Board can confirm that in recent weeks the Group has secured a number of significant projects for blue chip clients with a value of
more than �1.7m which will contribute to both revenues and profits in the current year.

    Whilst, the Board is suitably cautious in the light of emerging macro-economic factors, the Group has had a positive start to the
current year which is broadly in-line with management expectations.  

    A full update will be provided with the preliminary results.

    Enquiries to:


    Keith Birch, Chief Executive Officer
    Touchstone Group plc              020 7121 4700


    Matt Davis
    Brewin Dolphin (NOMAD)     0845 213 4852



This information is provided by RNS
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