Brief: Kindred Group Sees Operating Expenses To Remain Stable In Coming Quarters

Kindred

26/04/2023 06:46

April 26 (Reuters) - Kindred Group PLC  KINDsdb.ST :
    * FIRST QUARTER OF 2023 HAS SEEN ENCOURAGING IMPROVEMENTS IN BOTH REVENUE AND PROFITABILITY,
WITH
THE UNDERLYING EBITDA MARGIN INCREASING TO 16 PER CENT
    * OUR CORE MARKETS ARE PERFORMING WELL WITH THE UK, THE NETHERLANDS, AND THE NORDIC REGION
BEING
PARTICULARLY ENCOURAGING EXAMPLES
    * WE REMAIN FULLY FOCUSED ON COST OPTIMISATION ACROSS OUR OPERATIONS, AND EXPECT OUR
OPERATING
EXPENSES TO REMAIN STABLE IN THE COMING QUARTERS
    * Q1 GROSS WINNINGS REVENUE (B2C) INCREASED BY 23 PER CENT TO GBP 297.3 (242.4) MILLION, A
DECREASE OF 1 PER CENT EXCLUDING THE NETHERLANDS
    * HOWEVER, WHILE MOST OF OUR CORE MARKETS CONTINUE TO PERFORM WELL, THE CHALLENGES FACED IN
BELGIUM CONTINUE
    * THIS IS PRIMARILY RELATED TO KINDRED PUTTING IN PLACE STRICTER ANTI-MONEY LAUNDERING
CHECKS AND
IMPROVED RESPONSIBLE GAMBLING PROCESSES

Source text for Eikon:  ID:nWkrbskLYx 
Further company coverage:  KINDsdb.ST 

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