Member Info for MatthewC

Now that the VAT reclaim will not go to appeal it will be interesting to find out the amount of the reclaim. Indications are that it could be between £40 and £80 miliion. With net bank debt last reported at £57 million, Sportech will be in an incredibly strong position and well placed to take advantage of the online betting opportunities opening up in the US.

I bought into this company last week and am now delighted that I did so. I also bought into MCRB at the same time.

I cant wait to see the results on Monday. As you know on 10/1 the Board said the performance in 2012 had exceeded their expectations. It will be interesting to see what the shares rise to. It would be good to see some institutional support.

The VAT repayment has yet to be agreed, but is likely to be between £40m and £80m. To give a guide to the impact this will have, Sportechs net bank debt in £57m and so could be cleared by the payment. This will leave the company in a strong financial position in a market where opportunities for consolidation abound. Prelim results for 12 months to 31/12/12 show successful expansion importantly in the growing US online market. An approval has been won for exclusive online betting on horseracing in Connecticut later this Spring. Sportech has also acquired eBet Online to become one of the largest providers of online and betting technolgies in the US. I`ll be retaining my holding.

The six months results to 31/12/12 are out. Phenominal performance in testing conditions. adjusted EBITDA up 5.2%. Profits before adjustments up 10.2%, Revenue up 8.1%, EPS up 116.7%. Net debt reduced by £0.2 m. The group continues to expand with the purchase of 3 more veterinary practices and a pet crematorium. The loyalty scheme membership has also increased by 33%. Cash generation fell by 0.5 m, but still remains at healthy at £7.4 m. Margins from Animed Direct remain low as it builds its prescence in online sales. Margins in the lab practice have also fell due partially to competitive pressures. The Board expects a dividend to be paid at 12/13 at least at the same level (1.5p) as last year. I`ll be retaining my shareholding.