Pools operator scores profit hike
FOOTBALL pools operator Sportech today scored with a 39% increase in profits and said 2009 trading had started well despite the economic downturn.
The Liverpool-based company posted underlying pretax profits of £16.8m on revenue 20% higher at £71.8m for 2008.
Sportech, which did not propose a final dividend, said the rebranding and relaunch of the New Football Pools, formerly the Littlewoods and Vernons Football Pools businesses, in August had driven increased resilience in customer numbers.
Chief executive Ian Penrose said: “Sportech, as a high-volume, small-value-ticket gaming business, enters 2009 in a significantly stronger position (than 2008) to withstand the economic downturn.”
Mr Penrose said last year had been a “another year of major transformation” towards delivering the group’s turnaround strategy and modernising the product offering.
He said Sportech was now reaching a wider audience in the gaming sector: “As well as retaining our existing players and re-engaging with former customers, our new distribution channels and strategic marketing partnerships have enabled us to target new and younger players.
“For the period since the start of the new football season in August 2008 to the end of the year, and for the first time in recent history, Sportech has been a net recruiter of customers to its suite of Football Pools products.”
Alongside a 3m top prize for the main pools competition, Sportech has also launched new games including Premier 10 – which focuses on the Premier League – and Footy 15, featuring fixtures from England’s top two divisions, the Scottish Premier League and internationals.
