Kindred Group sees first quarter revenue drop 30%
Kindred Group maintained its business momentum from the previous quarter with the total revenue for the first quarter of 2022 amounting to approximately GBP 247 million
Total revenue declined by 30 per cent (27 per cent in constant currency) compared to the same period last year as it was impacted by the decision to temporarily cease activity in the Dutch market on 30 September 2021.
Excluding the impact of the Netherlands, the corresponding decline was reduced to 5 per cent (1 per cent in constant currency) and is primarily a result of the tough comparative period.
Underlying EBITDA for the first quarter of 2022 is estimated at approximately GBP 25 million (Q1 2021: GBP 106.0 million) which is at a similar level to the results presented for the fourth quarter of 2021.