Kindred Group reports strong first quarter 2018

Kindred Group plc’s first quarter financials reveal a strong performance highlighted by a 34 percent increase in gross winnings revenue on the mobile channel year-on-year which now accounts for 72 percent of the group’s total gross winnings revenue.

Key performance indicators for the 12-week period ending March 31, 2018 include:

Gross winnings revenue of GBP 207.8 million (Q1/2017: GBP 153.2 million), up 36 percent.

Underlying EBITDA was GBP 47.5 million (Q1/2017: GBP 30.3 million) representing a 57 percent increase.

Profit before tax amounted to GBP 33.6 million (Q1/2017: GBP 18.2 million.

Profit after tax was GBP 29.9 million (Q1/2017: GBP 16.3 million).

Earnings per share were GBP 0.131 (Q1/2017: GBP 0.072).

Number of active customers increased to 1,383,201 (Q1/2017: 1,232,915).

Gross winnings revenue from mobile grew 34 percent year-on-year and now contribute 72 per cent of total Gross winnings revenue.

Of the Group’s Gross winnings revenue 42 percent was derived from locally regulated markets.”

Gross winnings revenue contribution from 32Red for the first quarter of 2018 was GBP 17.9 million and underlying EBITDA was GBP 2.6 million.

In a further trading update, CEO Henrik Tjärnström revealed average daily gross winnings revenue to April 22 were up 52 percent y-o-y or 40 percent adjusting for the acquisition of 32Red.

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