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Touchstone shows strong results after flotation

Software maintenance revenue boost leads sales growth

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Touchstone Group, the specialist accountancy software reseller, has reported strong figures since its flotation. The results for the six months ended 30 September showed pre-tax profits at £460,000, compared to the previous full year profit of £841,000. The Hertfordshire-based reseller's turnover was £3.5 million, up 17 per cent on the same period last year. Earnings per share were 3.36p against 6.91p for the last full year. The board declared an interim divided of £33, payable on 15 January 1999. This was a drop on the dividend of £1100 for the 12 months ended 31 March 1998. Touchstone, the UK's biggest dealership for Systems Union's Sun account, floated on AIM in July (see Touchstone takes AIM). Chairman Philip Birch said the software maintenance revenue had shown 22 per cent growth in the last six months. ®

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