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NEWS 13 February 2019

Kindred Group endures tough Q4 but reports record 2018 revenue

By Tim Poole

Operator Kindred Group (formerly Unibet Group) has reported gross winnings revenue of £907.6m ($1.16bn) for 2018, an increase of 21%.

Underlying EBITDA also rose by 10% to £203.7m, while profit before tax grew 13% to £149.5m for the full year.

Profit after tax increased by 12% to £131.6m, with earnings per share up 14% to £0.59.

However, Kindred endured a tougher Q4, seeing underlying EBITDA, profit and earnings per share all take a hit during the period.

Gross winnings revenue did rise 5% during Q4, to £250.1m, but underlying EBITDA dropped 21% to £58.8m.

Similarly, profit before tax was down 19% to £45m, while profit after tax suffered an even bigger fall of 23% to £39.3m; earnings per share fell 22% to £0.173.

There was a Q4 positive for the operator in the number of active customers, which rose 18% to 1,568,574.

Henrik Tjärnström, Kindred Group CEO, said: "Strong levels of activity and an all-time high in active customers resulted in an all-time high for gross winnings revenue.

"In the fourth quarter of 2018, we have seen strong levels of activity, together with an all-time high in active customers, proving our long-term strategy is paying off."

RELATED TAGS: Financial | Industry
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