With player-friendly results and an increase in gaming taxes
B2B sports betting service provider Kambi Group's full year results were negatively impacted by punter-friendly sporting results and an increase in gaming taxes during the company's fourth fiscal quarter.
Key performance highlights for the full year period ending December 31, 2016 include:
– Revenue of Euro 56.0 million (2015: Euro 47.7 million), an increase of 17 percent.
– Operating profit (EBIT) was Euro 8.8 million (2015: Euro 7.4 million) with a margin of 16 percent (2015: 16 percent).
– Profit after tax was Euro 7.5 million (2015: Euro 6.2 million).
– Earnings per share were Euro 0.253 (2015: Euro 0.208).
– Cash flow from operating and investing activities (excluding working capital) amounted to Euro 4.1 (2015: Euro 6.2 million).
Kristian Nylén, chief executive officer of Kambi reiterated the underlying strength in Kambi's operational performance, saying he was pleased Kambi operators had reported solid increases in turnover, even when compared to a strong Q4 2015.
"We will continue to invest in our world class Sportsbook offering, to maintain our position as the highest quality service in the market, in an evolving market landscape".
Online Casino News Courtesy of Infopowa