Kambi highlights retail expansion as finances rise in Q3
Kambi Group said its ongoing strategy of improving and strengthening its retail business was central to its financial growth during the three months to September 30.
The sports betting services provider's revenue in the third quarter amounted to €14.8 million ($16.4 million), which represents an increase of 15% on the total collected in the same period last year.
Operating profit climbed from €2.5 million to €3.1 million, with an increased margin of 21%, while profit after tax was up from €2.1 million to €2.7 million.
As a result of its performance in the third quarter, revenue for the year-to-date stands at €41.7 million, up from €33.5 million at the end of September last year.
Operating profit for the first nine months of 2016 was €7 million, compared to €4.1 million last year, while profit after tax increased from €3.3 million to €6.3 million.
Kristian Nylén, chief executive of Kambi, said: “Our unparalleled service drove a 37% growth in operator turnover, which led to strong results for Kambi of 25% growth in operating profit.
“I am highly encouraged by the partnership we have signed with the prestigious gaming company Novomatic Lottery Solutions, where we are joining forces to create a state-of-the-art omni-channel solution for government regulated lotteries, which is a key target segment for Kambi.
“Part of our growth strategy is to build on our retail offering; we have seen tangible results as our retail service is being rolled out in several regions and is gaining momentum.”
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