5th Feb 2021 09:31
(Alliance News) -Â Sportech PLC on Friday said it expects 2020 earnings to be in line with board expectations.
The betting technology business said it continues to drive operational efficiencies through all its business lines and expects adjusted earnings before interest, tax, depreciation and amortisation in line with internal expectations for 2020.
The company's year-end cash will be ahead of expectations, at around GBP10.2 million.
"The group was historically dependent on live spectator attendance at sporting events which were obviously heavily impacted by the global pandemic, and we therefore took the necessary actions over the period to safeguard the group. Sportech has delivered on key 2020 performance metrics - namely cash generation from operational activities, capex reductions and delivery of a lower operational cost base going forward - resulting in only a modest cash outflow," said Chief Executive Richard McGuire.
Shares in Sportech were down 0.9% at 27.75 pence in London on Friday.
By Lucy Heming;Â [email protected]
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