Kindred posts solid revenue growth in the third quarter

Business News

Kindred Group this morning reported a 24% rise in revenue to GBP 280.7 (226.0) million.

Underlying EBITDA was GBP 74.6 (37.3) million. Profit before tax amounted to GBP 60.7 (21.4) million. Profit after tax amounted to GBP 52.5 (18.1) million. The number of active customers increased to 1,650,153.

Henrik Tjärnström CEO of Kindred Group said: Reflecting on the past six months, it is evident that societies across the world continue to struggle as a result of the COVID-19 pandemic.

Despite these challenges, and thanks to our diverse business model, I am pleased that we can report sustained momentum across our markets with Gross winnings revenue of GBP 280.7 million, a 24 per cent increase compared to the same period last year, and an all-time high in active customers.

For the period 1 October to 3 November 2020 average Gross winnings revenue in GBP was 42 per cent higher (38 per cent in constant currency) and active customers was 18 per cent higher than for the same period last year. We saw continued strong activity in sportsbook and casino and the sports betting margin was approximately 2 percentage points higher than in 2019.