With the United Kingdom's Tote removed from the selling block in October, analysts with Evolution Securities think Sportech is likely to resume the dividend sometime in the 2009 fiscal year.
The Evolution note came on Sportech's pre-close trading statement Tuesday, in which the company said trading for the second half of 2008 had been robust, resulting in a full-year outcome in line with management expectations. Specific numbers, however, were not given.
It has been a year of transformation for the Liverpool pools betting specialist. Its New Football Pools brand -- a £213.5 million agglomerate of Littlewoods Pools, Zetters Football Pools and Vernons -- went to market in August, and its Littlewoods online gambling properties relaunched in October on software from 888 Holdings.
"Nearly all the strategic initiatives have now been completed, leaving management free to focus upon gaining revenues in 2009," Evolution said in Tuesday's note.
Relative to its online sector peers, Sportech is positioned well: It has no adverse legal issues to resolve and is exposed to a resilient sportsbetting market, Evolution said.
With liquidity key to its future success, the company said on its interim management statement in November that, since launching the New Football Pools, it had been a net recruiter of online customers.
"The Board consider Sportech's high volume, small value ticket characteristics put it in a strong position to weather the economic downturn, as it has done on many occasions since the business was formed in 1923," the company said.