Kindred Reports Profit-After-Tax of £15 Million for Q1

Kindred Group Plc, the Malta based online gambling operator, has reported a profits-after-tax of £15 million for Q1 2019. The Stockholm-listed operator maintains its strong group revenue momentum recording “Gross winnings” of £224 million.

Despite maintaining “all-time highs” in customer sign-ups and activity, Kindred properties would be forced to reward all Swedish customers with an additional player bonus, compliant with the terms of the market’s new licensing system.

“All-time high in active customers but, as expected, profits for the quarter significantly impacted by the new local licence in Sweden. During the quarter we have had strong levels of activity across all markets and all-time highs in active customers and Sports betting turnover. This is the result of our continued investment in marketing, where focus has been in relation to responsible gambling in Sweden and football sponsorships in the UK,” Henrik Tjärnström, CEO of Kindred Group said.