Sportech full year revenue tops estimates

Finance News

Sportech said that its pretax loss for 2021 narrowed significantly on higher revenue as 2020 was affected by strict restrictions.

The betting-technology company said its pretax loss for 2021 was £246,000 compared with a loss of GBP11.9 million a year earlier. Revenue for the period was up £22.9 million compared with GBP17.4 million in 2020.

Andrew Lindley, Chief Executive Officer of Sportech, said:”2021 was a transitional year for the business with the completion of a significant amount of M&A and corporate actions to reduce the size of the business and de-risk our shareholders’ investments. The business, although now small in the context of a plc, is tidy and fit for growth. The two divisions are right-sized for their operations and 2022 brings with it an attendant opportunity to garner new value for the Group and its shareholders.”