Kambi reveals mixed results in first quarter
Kambi Group has announced a year-on-year increase in revenue during the first quarter of the year, despite a decline in operating profit.
Revenue in Q1 amounted to €14.2 million ($15.5 million), up 7% on the €13.3 million posted in the corresponding three-month period in 2016.
However, operating profit was down from €2 million to €1.4 million, at a lower margin of 10%, while profit after tax dropped from €1.8 million to €1.1 million.
In addition, cash flow from operating and investing activities, excluding working capital, fell from €1.4 million to €800,000, while earnings per share declined from €0.059 in Q1 of 2016 to €0.036.
Kristian Nylén, chief executive of Kambi, spoke positively about the Q1 results, which come on the back of a financially successful 2016 for the company.
“I’m very pleased to see continued success from our operators, as demonstrated by their ongoing rapid growth trend,” Nylén said.
“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.”
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