Kindred: worst day in a decade as investors bank profits

Betsson AB

25/07/2018 09:38

** Online gaming company Kindred  KINDsdb.ST  falls 11 pct,
its worst day in nearly a decade, with traders citing
profit-taking following half year results
    ** Co reported a rise in revenues but operating margins were
broadly flat at 14 pct in Q2  urn:newsml:reuters.com:*:nFWN1UL060
    ** Sweden's online gaming sector has been popular with
investors betting on earnings expansion. Rival Betsson's
 BETSb.ST  shares have risen nearly 30 pct since reporting a big
rise in operating profit on July 19  urn:newsml:reuters.com:*:nFWN1UF00X
    ** Kindred had also risen in expectation, with the stock up
18 pct in July
    ** Trader says stock's strong run had led to elevated
expectations followed by profit-taking
    ** Worst day for the stock since November 2008
    

 ((RM: alasdair.pal.thomsonreuters.com@reuters.net))