Sportech eyes growing profits in US
Sportech, which supplies pools and tote betting services, has hailed continuing growth in North America but higher costs have hit the bottom line in the first half.
Sportech, which supplies pools and tote betting services, has hailed continuing growth in North America but higher costs have hit the bottom line in the first half.
Revenue for the six months to the end of June was £57.7m, against £57.4m in the same period of 2011 while adjusted pre-tax profits were steady at £7.4m exactly the same as last year.
Reported profits before tax were down from £3.7m to £3.2m, this was a result of "exceptional costs" related to restructuring and other one offs.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The football pools division increased weekly spend per customer by 15% year on year while the racing division has had its tote contracts with California Racing extended until 2015.
The Chief Executive, Ian Penrose said: "[...] more than 30% of our profits now come from our North American business, and with the emerging regulatory environment and our unique strategic positioning we expect the region to become an increasingly important area for Sportech."
Sportech shares have risen 59% in the last 12 months but on Thursday morning they had fallen back 0.8% by 09:38.
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Cash in on the growth prospects of Europe's companies
Opinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
By Marcel Stotzel Published
-
Is the AI boom another dotcom bubble?
25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
By Dan McEvoy Published