Kambi Posts Solid First Quarter Financials

Internet sportsbetting group Kambi Group plc has published their 2018 first quarter financial results, revealing that the company had a good three months.

Key financial indicators for the quarter ending March 31st, 2018 were:

• Revenues of €16.4 million, up 15% from the year prior
• Operating profit up 42% to €2 million
• Post-tax profits of €1.5 million, up 36% from last year
• Sportsbetting margins of 7.9%, which helped push the financials higher

In a statement company CEO Kristian Nylen said, "Kambi kicked off the year in positive fashion with Q1 2018 delivering double-digit revenue growth, a strategic investment in a virtual sports company and the signing of a new customer. In addition, since the end of the quarter, we added another operator to the Kambi network, stretching our run of new customer wins to an impressive 10 consecutive quarters."

The upcoming World Cup will likely help with the second quarter fiscal results, as traffic will likely be pushed higher for the tournament, which comes about every four years.