Leading pool betting operator and technology supplier Sportech has posted its results for the 12 months to 31 December, 2016, reporting a rise in profit before tax to £30.7m from £9.7m in 2015.
The results are in line with expectations with overall EBITDA up three per cent to £23.8m.
Ian Penrose, chief executive of Sportech, said in a statement: “This has been a transformational year.
“We have moved into a strong net cash position and have today announced details of a return of capital to shareholders.
“We have also announced the sale of our Football Pools business for £83m, following a highly successful modernisation programme.
“The group is now in a strong position and more focused to take advantage of the strategic positioning of its predominantly US-based businesses. We look forward to delivering further progress in 2017."
