After reporting substantial gains in Kindred‘s Q2 trading report, group CEO, Henrik Tjärnström, discussed the key focus areas for the company going forward.
In a video released on Kindred’s official YouTube Channel, the CEO detailed the five themes that will shape the Nasdaq-Stockholm registered gambling group’s strategy following its positive trading results.
These five themes were creating differentiation through product excellence, creating differential through customer experience, ensuring sustainability and compliance and maintaining the scalability of the firm’s operations through platform excellence.
He detailed: “Those rock beds or core enablers underpinning our efforts in our markets where we focus on securing a strong core engine in our core markets and then really making sure that we firmly establish Kindred in the US in the coming two years.
“All of those five are underpinning our ambition to have strong growth and profits from locally regulated markets. That is what we’re focusing on first and foremost.”
Building on an ‘exceptionally strong business period,’ Kindred was able to achieve record results in last week’s H1 trading update, reporting a 575% increase in profits to £160 million (H1 2020: £27.8 million).
These profits were generated from a significant uptake in overall group revenue, rising to £716 million, a 48% increase on H1 2020 results of £485 million.
Additionally, UEFA Euro 2020 trading also provided a major boost to the Malta-based Kindred’s turnover, reporting football intakes of £195 million, as ‘several matches in the early stages achieved record activity’.
Additionally, the group sanctioned the acquisition of the remaining shares in technology partner Relax Gaming to bolster its long-term product strategy.