Kindred Group reports income growth of 36%

Henrik Tjärnström, CEO of Kindred Group, reported an annualized increase in a number of key financial indicators for the first quarter of 2018.

Kindred Group reported Q1 revenue growth of 36% to £207.8m (€237.6m), although the firm’s share price dipped over fears of slowing growth in both sports and gaming.

Henrik Tjärnström partially credited the gains to last year’s addition of UK-facing online casino operator 32Red, which contributed £17.9m in revenue and £2.6m in earnings to the Group’s Q1 scorecard. The acquisition also propelled Kindred’s active customer ranks to a record 1.38m in Q1, up from 1.23m in the same period last year.

The positive revenue momentum sees Kindred record growth across all key metrics and KPIs, with the company recording a period underlying EBITDA of £47.5 million.

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