Sportech Full Year 2016 Results

SPORTECH FULL YEAR 2016 RESULTS

29th March, 2017 at 15:16:22
Source: http://www.azonlinecasinos.com

Results fail to impress but transformational period positions company for growth, Board believes.

Sportech plc's full year 2016 report reflected what the Board described as a "transformational period" which it believes positions the company for future growth and increased value for its shareholders.

Key performance highlights for the 12 months ending December 31, 2017 include:

Group:

- Revenue of 98.6 million (2015: 100 million).

- Profit before tax increased to 30.7 million (2015: 9.7 million)

- EBITDA up 3% to 23.8 million (2015: 23.1 million)

- Adjusted profit before tax is up by 17% to 13.8 million (2015: 11.8 million)

- Adjusted net cash of 36.5 million (2015: adjusted net debt of 57.7 million), which reduces by 21.5 million once the Spot the Ball tax and fees are paid, and following receipt of the remaining 3 million

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