(Alliance News) - 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 GBP802,000 from a profit of GBP253,000 a year prior. Revenue however increased to GBP12.6 million from GBP11.8 million.
Notably, the Bristol-based firm reported "other" income dropping 94% to GBP155,000 from GBP2.6 million. In the half-year to June 30, 2021 that other income was the disposal of Sports Haven, which sells water sports equipment, for GBP2.6 million. In the just ended half-year, the firm reported GBP155,000 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.
By Tom Budszus; tombudszus@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.