Kindred slumps to bottom of STOXX on Q4 profit warning

Kindred

13/01/2023 08:38

** Shares in Kindred  KINDsdb.ST  fall 16.5% to the bottom
of Europe's STOXX 600 index  .STOXX  after the Stockholm-listed
online gambling group warns on lower-than-expected Q4 results
    ** In a trading update on Thursday evening, the company says
"revenue development did not meet the expectations" in Q4
    ** After "weaker than expected performance" in the quarter,
it sees Q4 group revenue at GBP 305 million ($372 million) and
EBITDA at about GBP 39 million
    ** Kindred says the 2022 FIFA World Cup disrupted the
sporting calendar, and that "contrary to expectations, turnover
from the World Cup was not enough to offset the impact of
reduced fixtures elsewhere"
    ** The Kindred stock is on track for its worst day since
January 2020
    ** Gaming companies Flutter  FLTRF.L , Entain  ENT.L  and
888 Holdings  888.L  also fall 2-4% after the warning
($1 = 0.8193 pounds)
 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))