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SPORTECH DELIVER MEDIOCRE RESULTS
04th March, 2015 at 16:13:26
Beats internal expectations says CEO
Sports betting and pools operator Sportech, presenting its preliminary results for the twelve months ending December 31, 2014, said its focus on highly regulated markets had resulted in a strong performance from its Sportech Racing and Digital division and a satisfactory performance from its Football Pools product, however, its Sportech Venues business environment remained challenging.
Key performance indicators include:
* Sportech Racing and Digital delivered an EBITDA of £ 8.1 million (2013: £ 7.3 million) driven by improved margins
* Sportech Venues : an EBITDA of £ 3.2 million (2013: £ 4.5 million).
* Football Pools: an EBITDA of £ 16.6 million (2013: £ 17.4 million)
Ian Penrose, Chief Executive of Sportech PLC, commenting on the results, said: "Investment in our core technology and people has delivered a strong performance in our US-based betting technology business and The Football Pools has had a good year. Our Venues division had a challenging year, but continues to lay foundations for long term growth.
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