Wednesday January 30,2013 : SPORTECH TRADING UPDATE IN LINE WITH EXPECTATIONS
 
VAT Repayment decision delayed
 
Sportech PLC has said the Group traded in line with Board expectations for the period ending December 31, 2012 despite a disappointing performance from its eGaming division which it attributes to brand changes and system migrations.
 
The firm reports strong cash flow generation and a robust balance sheet following a good show from its US venues and racing operations and Football Pools business.
 
The anticipated outcome of a claim by the Company for the repayment of VAT in excess of GBP 40 million has been delayed by the First Tier Tax Tribunal from January 2013 to February 2013, advised the update.