Sportech revenue and EBITDA down for 2015
Operator and supplier Sportech has reported reduced revenue, EBITDA and adjusted profit for 2015.
Revenue was down 4% year-on-year to £100.2m (6% on a constant currency basis), with EBITDA decreasing 4% to £23.1m (5% at constant currency).
The firm described the EBITDA figure as being “in line with expectations”.
Adjusted profit before tax fell 18% to £11.8m
However statutory profit before tax soared 149% to £9.7m, with the £20m loss in 2014 described as being “primarily due to non-cash impairment of the Football Pools goodwill”.
The firm’s net debt reduced 10% to £57.7m.
Sportech chief executive Ian Penrose said: “The Group has reached an important stage in its development, as our US business makes continued progress on many fronts, and our UK Football Pools business arrives at the inflection point of expected stability after years of modernisation.
“Overall, the Board is pleased with the strategic position that each of its divisions has secured, but recognises that each division will also require further investment, ahead of anticipated revenue and profit benefits, to better enable them to deliver their full potential.
“In this regard, over the past twelve months we have considered approaches for the Group as well as for The Football Pools.
“Despite this, we have remained focused on our operations and we will continue to investigate any proposals that recognise the value of the inherent potential of these businesses.”
Last November talks regarding an acquisition of Sportech by supplier Contagious Gaming ended without a deal being reached.
Sportech says the termination of discussions came after its board did not receive “an offer proposal from Contagious Gaming which is capable of being implemented or recommended”.
In January interactive gaming firm NetPlay TV withdrew from discussions regarding its potential acquisition of The Football Pools.
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