Kindred reports 2023 financial performance

Kindred reports 2023 financial performance

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Kindred reports 2023 financial performance

Kindred Group has recently published its latest annual financial report covering its performance in 2023.

The firm’s latest report started off by highlighting Kindred’s revenue of 1.21 billion pounds throughout the year, which represented a 13% year-over-year increase from 2022. The company’s gross revenue from its main B2C operations experienced a similar increase of 12% in the period and accounted for the majority of Kindred’s total revenue at about 1.17 billion pounds.

One of Kindred’s most noteworthy increases throughout the year involved the firm’s underlying EBITDA, which grew by 58% from the preceding year’s 129 million pounds to almost 205 million pounds. However, in contrast to this growth, the company recorded a decrease in its profits before taxes, generating just under 60 million pounds instead of last year’s 127 million pounds.

The decrease in Kindred’s profits before taxes was more substantial in the last quarter of the year, with the company generating a loss of 19 million pounds in the quarter. The firm also reported a slight decrease in its active player base in Q4, which went from last year’s 1.83 million users to just under 1.7 million.

Furthermore, along with publishing its latest financial report, Kindred has also announced that its interim Chief Executive, Nils Anden, has recently been selected as the company’s permanent CEO. This decision was made over 8 months after Anden was initially appointed as the interim Chief Executive of Kindred back in May of last year.

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