Sportech full year 2016 results

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 GBP 98.6 million (2015: GBP 100 million).

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

– EBITDA up 3 percent to GBP 23.8 million (2015: GBP 23.1 million)

– Adjusted profit before tax is up by 17 percent to GBP 13.8 million (2015: GBP 11.8 million)

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

– On a constant currency basis, EBITDA, excluding the closed collector channel, remained level with prior year at GBP 23.8 million

Sportech Racing and Digital:

– Revenues of GBP 36 million (2015: GBP 38.8 million).

– EBITDA of GBP 9.4m, GBP 0.3m down on prior year at constant currency.

Sportech Venues:

– Revenue of GBP 35.1 million (2015: GBP 36.6 million).

– EBITDA of GBP 2.7 million, GBP 0.5 million decrease from prior year at constant currency, with online handle growth partly offsetting the industry handle decline

Football Pools:

– Revenue of GBP 28.4 million (2015: GBP 28.4 million).

– EBITDA from continuing channels up by GBP 0.7 million (5 percent) to GBP 15.0 million

“We are confident in the strategic positions that each of our divisions have secured, whilst recognising that further investment is required, ahead of anticipated revenue and profit benefits, to enable them to deliver their full potential,” Roger Withers, chairman of Sportech plc, said.

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