Kindred Group released a remarkable financial statement for Q1, reporting substantial growth in revenue.
Kindred is off to a strong start this year. Its Q1 figure of £306.4m ($381.7m) in total revenue surpassed the previous highest recorded quarter – with an astonishing 300% increase in pre-tax profits, totaling at £30.4m for 2023’s first financial report alone! This remarkable success reaffirms their commitment towards continued growth and innovation within the industry as well as solidifying them as one of Europe’s top gambling companies.
With the implementation of new cost-optimisation initiatives, Kindred Group’s CEO Henrik Tjärnström reported an impressive result in Q1 2023 – a 16% increase in underlying EBITDA margin and 18% customer growth. This was further bolstered by their successful World Cup event which kept customers engaged into the first quarter this year with 1.6 million active users. Despite these positive results however, it has recently come to light that Kindred is undertaking a strategic review potentially resulting in sale of company assets; possibly confounding some investors anticipating today’s strong performance figures being extended through Q2 on account of more frequent football league fixtures due to winter world cup scheduling changes.