|The Financial Times has reported that Spotech is concerned about the performance of its sports betting site Littlewoods Bet Direct, fearing that profits will fall below market predictions for the full year. Although its core gaming operations are doing well, the sites profits have been hurt by a poor run of racing results and large expenditure on the development of its interactive television project.|
According to the FT, Brewin Dolphin cut its full-year pre-tax profit forecast from £14m to £13.3m after the warning, but remain optimistic on the company’s prospects. David Pope, Leisure Analyst at Brewin Dolphin, said: 'The spread of business is the beauty of the company. Everything else seems to be going to plan and there is a huge amount of potential upside in regard to the interactive television services.'
The feeling is that the new television operation will revitalise Sportech’s financial outlook. Gary Speakman, finance director, said: 'We really do see television as an important part of our future given that we have secured an interactive TV deal with the main UK commercial broadcaster.'