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Kindred Group plc - Interim report: January - March 2024 (unaudited)
Solid start to a transformational year
SLIEMA, Malta, April 24, 2024 /PRNewswire/ --
First quarter 2024
Total revenue was GBP 307.7 (306.4) million, in line with the first quarter of 2023.
Gross winnings revenue (B2C) was GBP 297.6 (297.3) million.
Underlying EBITDA increased by 20 per cent to GBP 59.3 (49.4) million.
Profit before tax was GBP 39.8 (30.4) million.
Profit after tax was GBP 31.4 (25.6) million.
Earnings per share were GBP 0.15 (0.12).
Free cash flow amounted to GBP 23.7 (29.0) million.
Number of active customers increased by 3 per cent to 1,667,564 (1,623,568).
CEO Nils Andén comments on the first quarter of 2024
"We have had a solid start to 2024 with the underlying business operations performing well and operational initiatives moving forward according to plan. The headcount reduction plans announced at the end of last year are progressing as intended and the North America exit is set to conclude towards the end of the second quarter this year. Our growth plan that we launched during the fourth quarter last year, focusing on Europe and Australia, continues at pace with dedicated strategic growth projects across locally regulated markets."
"Together with the encouraging performance of the B2B business, Relax Gaming, total revenue for the first quarter came in at