18th Mar 2020 17:50
(Alliance News) - Betting technology business Sportech PLC on Wednesday said that trading in the early months of 2020 started satisfactorily, however in recent days, trading has been impacted by postponement of global sporting events owing to the Covid-19 pandemic.
The company expects trading to continue to be materially impacted, however, it stopped short of providing a financial guidance.
Sportech had GBP11.0 million cash at the end of February and no debt. It expects a GBP3.5 million reduction in cash position based on a scenario of the severe curtailing of sporting events through to the end of June and then resumption of normal service thereafter.
Shares in the company closed at 12.00 pence each in London on Wednesday, down 38%.
By Tapan Panchal; [email protected]
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