(Alliance News) - Sportech PLC on Tuesday said it expects its 2022 earnings to be ahead of market consensus, citing strong sports betting and gross gaming performances.
Back in May of last year, the Bristol-based betting technology company had reported a 2021 adjusted earnings before interest, tax, depreciation and amortisation loss of GBP1.8 million, narrowed from GBP4.0 million in 2020.
Sportech noted "healthy" year-end net cash, which could lead to a further capital return to shareholders in the first half of 2023, compared to 7 pence per share returned in 2022.
Executive Chair Richard McGuire said: "The outlook for 2023 and beyond is very positive. We will continue to discuss the future business structure with key shareholders to ensure alignment with the board on objectives and direction for the divisions and group."
The company aims to release its 2022 results in April.
Sportech shares were 6.9% higher at 18.70 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News reporter
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