Sports betting services business-to-business supplier Kambi Group has cited the impact of lower than average margins as one of the main reasons behind a year-on-year jump in revenue during the three months through to March 15.
Revenue amounted to €10 million ($11.1 million), up 29% on the €7.7 million achieved in the corresponding period last year.
Operating profit increased from a loss of €100,000 in the first quarter of last year to a positive figure of €800,000 this year, while margin was up from -1% to a plus of 8%.
Elsewhere, profit after tax was up from a negative of €300,000 to a plus of €600,000, while earnings per share increased from minus €0.0017 to a positive of €0.020.
Kristian Nylén, chief executive officer of Kambi, said: “The first quarter showed a significant increase in our operators’ turnover, up 47% compared to the same period last year.
“This demonstrates very strong growth, which clearly shows the strength of our service.
“For Kambi, this resulted in a 29% increase in revenue, partly explained by lower than average margins.
“We are positive about regulatory changes in the Italian market and the opportunities they give us, as we prepare the launch of a premium offering compliant with the new regulation.
“We continue to strengthen our sales team and are in a number of ongoing discussions with potential customers.”
source : www.igamingbusiness.com
