Shares in Kindred Group slumped by more than 16 per cent in Stockholm Friday after the operator posted lower revenue than expected for the final quarter of 2022, with a historically low gross profit margin and considerable marketing investments having a negative impact on its profitability.
Kindred’s revenue increased by 24 per cent year-on-year to £305m in Q4, and was up by 3 per cent excluding the Netherlands, although the company said that the revenue development [...]
