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Sportech PLC - Bristol-based betting technology company - Says trading in the first four months of 2023 has been in line with expectations. Says sports betting continues to experience a stable rate of growth. Expects to achieve full-year expectations, including generating positive earnings before interest, tax, depreciation and amortisation.
Executive Chair says: ‘We are delighted to share the news of our strong start to the year, which can be attributed to the outstanding efforts of our management team. By capitalising on our exclusive pari-mutuel betting license, we have successfully tapped into a new demographic of sports betting enthusiasts, opening up valuable cross-selling opportunities.’
For 2022, revenue was £26.0 million, up from £22.9 million in 2021. Pretax loss widened to £934,000 from £246,000 a year earlier.
Current stock price: 19.87 pence each
12-month change: down 15%
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