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 GBP1.5 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 GBP2.3 million following this award, up from GBP1.1 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 GBP1.1 million, up 71% compared to GBP621,000 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%

By Xindi Wei; xindiwei@alliancenews.com

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