Kambi has a rough start to the year despite increase in revenue

ite a decline in operating profit, Kambi Group has announced a year-on-year increase in revenue during the first quarter of 2017.

Issuing a market update, Kambi’s operating profits and margins were subject to punter-friendly football results during the final few weeks of Q1 2017.

The customer-friendly results pushed operating margins down 10% from €2m to €1.4m, a significant decrease on Q1 2016’s 15% outcome. In addition, profit after tax dropped from €1.8 to €1.1m.

However, revenue in the first quarter amounted to €14.2m, up 7% on the €13.3m posted in the year-prior.

Commenting on the results, Kambi CEO Kristian Nylén says: “I’m very pleased to see continued success from our operators, as demonstrated by their ongoing rapid growth trend.

“The latter part of the quarter resulted in an unusually high number of player-friendly outcomes in the major football leagues, which impacted the trading margin.

“The underlying strong performance and momentum within the company is unaffected by these events, this makes me confident in our strategy and business model which creates value for our operators.

“As mentioned in the Q4 report, we are delighted to have signed a contract with Greentube in February and look forward to helping expand its online sports betting offering with Kambi’s premium Sportsbook across Europe. We continue to develop our Sportsbook to carry on delivering an exceptional experience for the end users.”