Kindred Group announced that short-term headwinds continue but long-term optimism remains as it presents its figures for the first quarter of 2022.
Total revenue (B2C and B2B) was £246.7m (£352.6m) and gross winnings revenue (B2C) decreased by 31 per cent (29 per cent in constant currency) to £242.4m (£352.6m). Excluding the Netherlands, gross winnings revenue declined by seven per cent (three per cent in constant currency).
CEO Henrik Tjärnström commented: “While the start of 2022 has seen societies returning to normal after two years of Covid-19 impacting our lives, we are today witnessing worrying geopolitical development in Europe, bringing both uncertainty and tragedy that will leave its mark for the foreseeable future.
"While these developments have had a limited impact on Kindred’s performance for the first quarter of 2022, we continue to notice an impact from post-Covid-19 normalisation across markets, as well as the decision to cease activity in the Dutch market in Q3 2021.”
