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Kindred Group shares dip as increased costs cause 19% drop in profit

26th April 2017 8:38 am GMT
Kindred

Stockholm-listed operator Kindred Group has reported a 25 per cent increase in revenue to a record £153.2m for the first quarter of 2017, its eighth consecutive quarter of sequential growth.

The company posted year-on-year revenue growth across all products in Q1, although sports betting margin (after free bets) fell to its lowest quarterly level since Q1 2013 at 6.0 per cent (Q1 2016: 6.4 per cent).

Despite this sports betting revenue rose 23 per cent to £66.4m [...]

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