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Touchstone has positive start; IT.

Touchstone Group yesterday posted a lower full-year pretax profit but said it had a positive start to the current year, ahead of last year and broadly in-line with its management expectations.

For the year to end-March, the AIM-quoted provider of business software and consultancy services said its pretax profit declined to pounds 1.7 million from pounds 2.6 million, despite sales rising four per cent to pounds 31.4 million.

Touchstone also said has received a number of unsolicited approaches but it is not in any offer talks, although it will continue to keep 'an open mind about such options'.

The company declared a final dividend to 1.7 pence a share from 2.72 pence last year, bringing total dividend to 3.2 pence per share, lower than last year's 4.2 pence.
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Title Annotation:Business
Publication:The Birmingham Post (England)
Date:Jul 24, 2008
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