Kindred profits down by a third as Swedish market piles on margin pressure

Q1 EBITDA and profit stoop far below 2018 levels as the operator cites bonus payments and increased marketing costs for the drop-off

Kindred Group today reported a 36% fall in Q1 EBITDA due to “significant short-term margin pressure” in Sweden’s re-regulated market. Underlying EBITDA dropped to £30.6m, down from £47.5m in the same period last year, while profit after tax was cut almost in half to £15.1m from £29.9m in Q1 2018. Kindred Group CEO Henrik Tjärnström…

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