Touchstar plc has said its annual revenue for FY25 is expected to be below market expectations at around £6.7m, with only a small pre-tax trading profit for the year.

The developer of data collection and mobile computing solutions for industry blamed “softness in the economy” and said results have also been impacted by non-trading costs including the restructuring of its senior management team.

When CEO of 20 years Mark Hardy was replaced by Lynden Jones earlier this year, it said it was targeting “a year of revenue growth and increased profitability”.

It stated today: “Despite lower profitability, the company’s balance sheet remains healthy and year end cash should remain at over £2m.”