Sportech PLC
22 September 2005
Sportech PLC ("Sportech" or "the Company")
Trading Update
In advance of the Company's interim results for the six months ended 30 June
2005 to be announced on 27 September 2005, the Company provides the following
update 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 Betting
division which was impacted by poor sports results. Additionally, attrition in
the Football Pools business was higher than expected at 15% which has partly
been offset by cost reductions.
Based on the trading performance since 1st July, we expect the decline in
Football Pools revenue to continue at levels similar to the first half. The
Company also expects a return to gross win growth in the Betting division but
not 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 similar
to that of the first half, which in aggregate is below current market
expectations for the full year 2005. The Company notes that this level of
profitability would still be ahead of the last financial year.
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Enquiries
Sportech PLC
Roger Withers, Acting Managing Director
Gary Speakman, Finance Director 0151 288 3117
Bell Pottinger Corporate & Financial
David Rydell / Charlotte Kirkham 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange