Sportech (SPO)

Sector:

Tourism and Leisure Services

Index:

FTSE Fledgling

18.95p
   
  • Change Today:
      0.65p
  • 52 Week High: 34.75
  • 52 Week Low: 11.00
  • Currency: UK Pounds
  • Shares Issued: 188.75m
  • Volume: 3,141
  • Market Cap: £35.77m
  • RiskGrade: 355

Sportech narrows statutory loss as it seeks to expand in US

By Josh White

Date: Thursday 21 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Betting technology provider Sportech reported a 3.9% fall in revenue in its final results on Thursday, to £63.7m.
The London-listed firm said adjusted EBITDA for the year ended 31 December was £8m, which was 18.8% higher year-on-year prior to sports betting investment, while its statutory loss before tax from continuing operations narrowed to £2.4m from £23.2m.

Its adjusted profit before tax from continuing operations, prior to sports betting investment, rose to £2m from £1.5m a year earlier.

Cash, net of customer balances, as at at 31 December was £14.7m, down slightly from the £15.9m reported in 2017.

On the operational front, Sportech noted that it appointed Richard McGuire as interim executive chairman and Thomas Hearne as chief financial officer during the period.

It completed the sale of Sportech Racing BV in the Netherlands, and closed its central London office, while it also conducted an independent technology review, which led to the acquisition of a new digital tech business.

The company's 'Bump 50:50' division added 20 new professional and collegiate sports teams to its customer roster, while Sportech delivered a US sports betting presentation to numerous business clients, regulators and legislators.

Sportech began a campaign to provide sports betting solutions to US clients during the period, as well as one seeking to extend current Connecticut licensing to cover sports betting.

"The group enters 2019 with a renewed impetus to drive operational efficiency across all business divisions and deliver an enhanced customer experience," said executive chairman Richard McGuire.

"Growth opportunities exist with the launch of new betting products and features and a resolute progress towards a future in US sports betting across both our business and our consumer-facing divisions.

"The acquisition of the Lot.to Systems platform and talent show a clear focus on developing digital initiatives further, which supports our continued evolution to deliver growth and drive operational efficiency."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sportech Market Data

Currency UK Pounds
Share Price 18.95p
Change Today 0.65p
% Change 3.55 %
52 Week High 34.75
52 Week Low 11.00
Volume 3,141
Shares Issued 188.75m
Market Cap £35.77m
RiskGrade 355

Sportech Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.18% above the market average27.18% above the market average27.18% above the market average27.18% above the market average27.18% above the market average
11.43% below the sector average11.43% below the sector average11.43% below the sector average11.43% below the sector average11.43% below the sector average
Price Trend
81.19% below the market average81.19% below the market average81.19% below the market average81.19% below the market average81.19% below the market average
50.68% below the sector average50.68% below the sector average50.68% below the sector average50.68% below the sector average50.68% below the sector average
Income Not Available
Growth
71.13% below the market average71.13% below the market average71.13% below the market average71.13% below the market average71.13% below the market average
73.91% below the sector average73.91% below the sector average73.91% below the sector average73.91% below the sector average73.91% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
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Sportech Dividends

  Latest Previous
  Special Final
Ex-Div 23-Nov-17 n/a
Paid 18-Dec-17 n/a
Amount 29.00p 0.000p

Trades for 03-Jul-2020

Time Volume / Share Price
08:49 100 @ 18.95p
08:37 34 @ 18.95p
08:30 200 @ 19.05p
08:22 2,807 @ 17.67p

Sportech Key Personnel

CEO Richard Anthony McGuire
CFO Thomas Hearne

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