The business-to-business supplier of managed sports betting services Kambi Group Plc posted its financial report for the third quarter of 2016. In addition, the company revealed that its current strategy of improving and bolstering the brand’s retail operations has been put among its paramount goals over the three-month period ended on September 30th.
The Chief Executive Officer of the company Kristian Nylén shared he was pretty satisfied with the delivered results over the third quarter of 2016. Mr. Nylén also explained that the partnership agreement the operator had inked with NOVOMATIC Lottery Solutions was very encouraging when it came to the government regulated lotteries which were one of the major targets for Kambi’s future expansion. According to the company’s boss, the partnership deal would bolster Kambi’s reach to potential customers especially in the lottery business.
In addition, Mr. Nylén shared that part of Kambi Group’s strategy for future growth included making investments to enlarge their retail offering, since the retail service of the brand had been given a warm welcome in a number of regions.
Kambi Group revealed that its revenue over the third fiscal quarter rose by 15% from the one posted a year earlier and amounted to €14.8 million. The revenue of the Group for the nine months from January to September 2016 reached €41.7 million.
The company also revealed a third-quarter operating profit of €3.1 million. Over the nine-month period from January to September 2016, Kambi’s operating profit amounted to €7.0 million. The business-to-business sports betting products and services provider announced that its profit after tax reached €2.7 million in the third quarter of the current financial year and €6.3 million in the period from January to September.
Last, but not least, the company reported an excellent cash flow generated from operating and investing activities. Over the last fiscal quarter, it amounted to €1.6 million, while in the period from January to September it was estimated to €3.1 million.
Kambi Group especially highlighted its solid turnover growth, which reached 37% on year-on-year base. The company also explained that the Euro 2016 tournament results boosted its performance over the period, and the newly-inked collaboration deal with NOVOMATIC Lottery Solutions is expected to bring it further benefits. Also, Kambi Group shared that its ongoing agreement with Spain-based operator Luckia is to be through soon and will not be renewed.
- Author
Olivia Cole
