22nd Sep 2005 07:02
Sportech PLC22 September 2005 Sportech PLC ("Sportech" or "the Company") Trading Update In advance of the Company's interim results for the six months ended 30 June2005 to be announced on 27 September 2005, the Company provides the followingupdate on trading. Profit before tax and restructuring costs for the first half are expected to be£5.2m. This performance reflects an 8% decline in gross win from the Bettingdivision which was impacted by poor sports results. Additionally, attrition inthe Football Pools business was higher than expected at 15% which has partlybeen offset by cost reductions. Based on the trading performance since 1st July, we expect the decline inFootball Pools revenue to continue at levels similar to the first half. TheCompany also expects a return to gross win growth in the Betting division butnot at a level to regain the profit shortfall in the first half. As a result the Board expects profits before tax and restructuring to be similarto that of the first half, which in aggregate is below current marketexpectations for the full year 2005. The Company notes that this level ofprofitability would still be ahead of the last financial year. - ends - Enquiries Sportech PLCRoger Withers, Acting Managing DirectorGary Speakman, Finance Director 0151 288 3117 Bell Pottinger Corporate & FinancialDavid Rydell / Charlotte Kirkham 020 7861 3232 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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