Refinancing costs dent Sceptre’s bottom line

SCEPTRE Leisure, the Lancashire-based fruit machine supplier, saw losses widen last year after feeling the squeeze from refinancing costs.

It also saw less revenue from “skills with prizes” machines, such as quiz terminals where winnings are based on the player’s skill.

According to recently-filed accounts for the year to April 2013, revenues slipped 8% to £32m and pre-tax losses widened to £5.4m from £1.5m.

Preston-based Sceptre, which delisted from the Alternative Investment Market in 2012 citing costs and undervalued shares, agreed a £20m refinancing package with Chenavari Investment Managers a year ago.

It said the deal, which replaced finance from Lloyds, incurred exceptional costs of £1.7m. Overall, the company had one-off charges totalling £3.6m, including £1.2m for old machines.

As well as fruit machines Sceptre operates the LotteryKing brand and Kelly’s Eye fundraising products.