The governance of London-listed Sportech Plc has detailed confidence in the firm’s performance and future prospects as 2019 trading is forecasted to surpass ‘adjusted EBITDA expectations’.
Updating investors, Sportech governance details that the company has benefited from ‘operational efficiencies’ implemented across the firm’s business channels, forming part of Sportech’s wider group transformation programme.
During the course of 2019, the racing and wagering systems provider has disposed of non-profitable verticals and further streamlined operating costs, improving its group-wide earnings capacity.
Supporting the firm’s efficiency drive, Sportech has reduced its capital expenditure projects by significantly reducing its group expenditure.
Meanwhile, the Group’s other business units including Racing and Digital, Bump 50:50 and Lottery are anticipated to demonstrate net contribution growth in FY 2019.
Richard McGuire, Chief Executive Officer of Sportech, said: “Sportech now has a management team in place to transform the business to drive growth and efficiencies. We have extricated the Group from a number of historically expensive strategies, delivered an efficient and lower operational cost base, and we are now much more confident in the Group’s ability to deliver significant value to our clients and shareholders.”