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Sportech PLC on Thursday reported it swung to a half-year loss as it did not sell a part of its business like a year ago.
In the six months to June 30, the betting technology company turned to a pretax loss of £802,000 from a profit of £253,000 a year prior. Revenue however increased to £12.6 million from £11.8 million.
Notably, the Bristol-based firm reported ‘other’ income dropping 94% to £155,000 from £2.6 million. In the half-year to June 30, 2021 that other income was the disposal of Sports Haven, which sells water sports equipment, for £2.6 million. In the just ended half-year, the firm reported £155,000 from received credits.
Sportech posted a brief outlook, stating ‘enhancing group value remains the board's key focus and the group strategy is structured accordingly with regard to this central measure.’
Sportech shares were 2.1% lower at 19.83 pence each in London on Thursday afternoon.
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