Brief: Kindred Q2 Underlying EBITDA Rises To GBP 55.7 Mln

Kindred

25/07/2023 06:51

July 25 (Reuters) - Kindred Group PLC  KINDsdb.ST :
    * Q2 GROSS WINNINGS REVENUE GBP 298.3 MILLION VERSUS GBP
233.5
MILLION YEAR AGO
    * Q2 UNDERLYING EBITDA GBP 55.7 MILLION VERSUS GBP 25.3
MILLION
YEAR AGO
    * STRONG START TO Q2 HAS REMAINED THROUGHOUT MOST OF PERIOD
WITH
FIRST TWO MONTHS BEING PARTICULARLY STRONG
    * PERFORMANCE WAS POSITIVELY IMPACTED BY AN INCREASE IN
SPORTS
BETTING ALONG WITH FAVOURABLE SPORTS RESULTS
    * WHILE CHALLENGES EXPERIENCED IN BELGIUM AND NORWAY DURING
Q1
REMAIN, SIGNS OF IMPROVEMENT ARE SEEN IN BELGIUM
    * AVERAGE DAILY GROSS WINNINGS REVENUE FOR GROUP, UP TO AND
INCLUDING 23 JULY 2023, WAS GBP 2.93 MILLION, 1 PER CENT LOWER
(1 PER CENT HIGHER IN CONSTANT CURRENCY) THAN DAILY AVERAGE FOR
FULL Q3 OF 2022
    * SPORTS BETTING GROSS WINNING REVENUE HAS BEEN POSITIVELY
IMPACTED BY A STRONGER SPORTS BETTING MARGIN OF 11.6 PER CENT
AFTER FREE BETS FOR ABOVE PERIOD, COMPARED TO 9.9 PER CENT FOR
FULL Q3 OF 2022

Source text for Eikon:  ID:nWkr4qJSj4 
Further company coverage:  KINDsdb.ST 

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